Currency depreciation continues to rise
In September 2021, the Consumer Price Index (CPI) for North Rhine-Westphalia experienced a significant increase of 4.4 percent compared to the same month in 2020. This rise was influenced by several factors, including government policies and persistent COVID-19 interventions.
Temporary VAT reductions during the pandemic were reversed in late 2020 and early 2021, raising the standard value-added tax rate back to 19%. This increase directly contributed to the prices of many goods and services. Additionally, Germany introduced a CO2 pricing mechanism in 2021, which increased the cost of fossil fuels and energy consumption, further feeding into consumer prices.
Pandemic-related restrictions impacted supply chains and production capacities, causing supply bottlenecks and shortages. Government support measures and changes in consumption patterns also put upward pressure on prices.
Despite these increases, some items such as bell peppers (-8.7 percent) and washing machines (-7.4 percent) became cheaper than the previous year. Grapes (-10.0 percent) and potatoes (-9.5 percent) also saw a decrease in price. However, prices for certain items did rise, particularly tomatoes (+18.9 percent) and lettuce or iceberg lettuce (+14.4 percent).
Interestingly, there was no further increase in the Consumer Price Index compared to the previous month (August 2021).
If you're looking for more in-depth information about social developments, culinary arts, art, and culture in Neuss, consider signing up for a free newsletter. Your subscription confirmation can be found in your inbox or spam folder. The newsletter does not send spam and is committed to maintaining your privacy, as outlined in its privacy policy available on the website.
[1] [Source 1] [4] [Source 4]
- The increase in the Consumer Price Index (CPI) in September 2021 was influenced not only by government policies and COVID-19 interventions, but also by the reversal of temporary VAT reductions and the introduction of a CO2 pricing mechanism in finance, which led to higher prices for many goods and services.
- As a result of supply bottlenecks and shortages caused by pandemic-related restrictions, prices for certain items such as tomatoes and lettuce or iceberg lettuce significantly increased, contributing to the overall rise in the Consumer Price Index (CPI).
