An online survey by the opinion institute YouGov, commissioned by the insurance company Axa, showed Tuesday that an increasing number of people in Germany are saving less for their old age due to the general increase in prices.

According to the latest edition of the survey, conducted in early August of this year, 40 percent of the 2,099 adults surveyed said that, due to the large price increases of recent years, they are saving less for their retirement.

In the 2024 survey, the figure was almost 38 percent, and in 2023 the percentage was 32.

Although the big wave of price increases seems to be over for now, in June and July this year consumer prices in Germany were two percent above those of the same month last year, a relatively moderate increase.

However, food is in some cases much more expensive than a year ago, and prices for services have been rising above average for months, something that is directly affecting consummers’pockets.

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