“This means inflation is likely to fall again in the coming months. In August, it should drop below 2 percent for the first time since March 2021,” said Timo Wollmershauser, head of forecasts at ifo.
Price expectations in Germany rose to 16.2 points in May 2024 from 15.2 points in April, according to the ifo Institute.
Manufacturing and wholesale sectors saw increased price expectations, with manufacturing climbing to 7.6 points from 6.0, and wholesale rising to 11.2 points from 7.8.
However, price expectations in consumer-related industries declined.
In the manufacturing and wholesale sectors, more companies plan to raise their prices compared to the previous month. Price expectations in manufacturing climbed to 7.6 points from 6.0 points, while in wholesale, they rose to 11.2 points from 7.8 points.
Fibre2Fashion News Desk (DP)