Of the 2,059 respondents involved in a survey conducted by YouGov, a British market research institute, on behalf of Postbank, 17.2 percent said they could hardly afford their living costs due to high inflation.
According to local media reports, low-income households bear the brunt of the cost-living-crisis. The financial hardship is also felt among middle-class people, some of whom have also become regular visitors to food banks.
Poverty in Germany has been rising at a faster pace due to the pandemic and inflation, according to a report published by the German Parity Welfare Association in March.
The report indicated that children and young individuals in Germany are vulnerable to poverty, with over 20 percent of young people being affected. Additionally, 18.2 percent of pensioners are classified as poor.
Preliminary estimates reckon that inflation in Germany in September dropped to 4.5 percent, the lowest level since February 2022.
Food and energy prices, on the other hand, remain stubbornly high. In August, food prices were 9 percent higher over the previous year, while energy prices were 8.3 percent higher, according to the Statistical Office of Germany.
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