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Real wages in danger: Inflation has an impact on your salary!
Learn how rising salaries and inflation in Germany influence purchasing power in Germany and what changes are imminent.
Real wages in danger: Inflation has an impact on your salary!
In Germany, wages experience a significant increase, but at the same time many workers are fighting with a high inflation rate that affects essential purchases and living costs. According to the Federal Statistical Office, salaries rose by 6.0 percent in 2023, but this was partially negated by the inflation of 5.9 percent. Thus, the real wage, who measures the actual purchasing power, only rose by 0.1 percent compared to the previous year, as ZDF reports .
But the financial worries could increase again in 2025. The inflation compensation model paid by the employer, which brought in up to 3,000 euros, will probably expire at the end of 2024. This could mean that many people in Germany are received less net content. The tariff degrees, which have been temporarily increased in recent years due to high inflation rates, will also be reduced against the background of stagnating labor productivity from 2025. Dominik Groll, labor market expert, explains that the big climbs of recent years have reached their peak and now only moderate development can be expected.
increasing social security contributions as an additional cost factor
At the turn of the year, higher contributions to social insurance also come into force, in particular the health insurance contributions, which will increase on average from 1.7 to 2.5 percent. This increase can further reduce the already reduced net content, warns Berlin Live . These changes could particularly affect workers in the low -wage sector, since the hoped -for increasing net amounts are reduced again by these additional taxes.