GERMAN FINMIN LINDNER: THE ECONOMIC SITUATION IS DETERIORATING
— *Walter Bloomberg (@DeItaone) August 10, 2022
German front yr power futures have reached 411 €/MWh today.
Germany consumes about 500 TWh electricity annually. So at current prices the economy's power bill stands at €205bn.
The 2010s average was €20bn.
The German electricity bill went up by €195bn. That's 5% of GDP. pic.twitter.com/R4L59qQs33
— Lion Hirth (@LionHirth) August 9, 2022
Meanwhile food inflation in Germany at all-time high.
Via Bloomberg. pic.twitter.com/7I9jXv3OFb
— Daniel Lacalle (@dlacalle_IA) August 10, 2022
Good Morning from #Germany, where supermarket prices are rising much faster than in other Eurozone countries. Food CPI jumped 14.8% YoY in July, the highest food price #inflation since the start of the statistic. pic.twitter.com/CJEh24Escn
— Holger Zschaepitz (@Schuldensuehner) August 10, 2022
🇩🇪 *GERMAN POWER FOR NEXT YEAR RISES 2% TO RECORD EU415/MWH – BBG
— Christophe Barraud🛢🐳 (@C_Barraud) August 10, 2022
h/t silvertomars