The total real turnover of German retailers decreased by 10.3% in March 2023 compared to February 2022. This was the most significant drop in the index since 1994. reported Referring to the statement of the German Federal Statistical Office.
“We’re talking about the sharpest drop in turnover since such observations began in 1994,” the report says.
The document states that the main reason for this is a “significant increase in food prices by 22.3% year-on-year”. The agency also noted that food prices are “increasing three times faster” than general inflation.
On Tuesday Sky News reportedIt was reported that the annual rate of increase in food prices in the UK in April of this year reached a record level of 15.7%.
Russia’s Central Bank Governor Elvira Nabiullina said on Friday that the regulator does not expect double-digit inflation in 2023, but may raise the key rate if there are signs that prices will rise. It was held at 7.5% year-on-year for the fifth time on Friday.