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Britons in Europe: How have you been affected by the drop in the value of the pound?

The value of the pound against the Euro has fallen again in recent days following the UK government's mini-budget. But how will it impact your lives. We want to hear from you.

Britons in Europe: How have you been affected by the drop in the value of the pound?
A photograph taken on April 22, 2022 shows sterling pounds coins and bankotes displayed on a table, in London. - The pound slumped more than one percent against the dollar on April 22, 2022 after official data showed tumbling retail sales as Britons grapple with a cost-of-living crisis. In London morning deals, sterling sank to $1.2887 -- its lowest level since October 2020, also as Britain's Prime Minister comes under renewed political pressure. (Photo by Tolga Akmen / AFP)

The pound is on the slide once again and that means for those living in Europe who have income in sterling, it can have a huge impact.

It is of course not the first time the pound has slid in value. We saw the same happen in the immediate aftermath of the Brexit referendum, which hit many of our readers hard.

British pensioners living across Europe who received the income in pounds were particularly hard hit.

Please take a minute to fill in this survey and share it with people you know. We’d like to explain just how a drop in the value of the pound affects the lives of those Britons living abroad.

Thanks for your time.

 

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MONEY

Energy crisis: Which everyday German products are increasing the most in price?

Inflation in Germany reached 10.4 percent in October – the highest level in 70 years. The Federal Statistical Office has now announced which prices have risen particularly sharply.

Energy crisis: Which everyday German products are increasing the most in price?

Energy prices

Energy prices in Germany have risen significantly as a result of the Russian invasion of Ukraine and the squeeze on cheap energy supplies and high energy prices are the biggest driver of inflation.

Despite the relief measures taken by the federal government over the past year, energy prices in October were 43 percent higher than in the same month last year.

READ ALSO: KEY POINTS: Germany’s inflation relief measures to support people in cost of living crisis

According to the German Federal Statistical Office, household energy in particular has become significantly more expensive.

Prices for natural gas, for example, have more than doubled since last October – increasing by 109.8 percent.

The cost of heating with other energy sources has also risen sharply – the price of firewood, wood pellets or other solid fuels has increased by 108.1 percent since October 2021, while the price of heating oil has increased by 83 percent. Electricity prices have also increased by 26 percent.

A man fills up his car at a gas station in Duisburg. Photo: picture alliance/dpa | Christoph Reichwein

Prices for gasoline and diesel have also risen by more than 22 percent since last year. In October, an average 40-litre tank of Super E10 cost €76 – €10 more than a year ago and €26 more than in 2020. 

Groceries

According to the Federal Statistical Office’s report, private households are now paying on average 20.3 percent more for groceries than in October 2021.

The biggest price hike has been for edible fats and oils – such as butter and cooking oil – which have increased by 49.7 percent since last October.

A girl spreads butter on a slice of bread. Photo: picture alliance/dpa | Patrick Pleul

Dairy products and eggs are 28.9 percent more expensive than a year ago, while vegetables and cereal products are 23.1 and 19.8 percent more expensive respectively.

The statisticians attribute the price increases to supply bottlenecks and problems in the upstream stages of the production chain as the main reasons for these cost hikes. 

READ ALSO: Fact check: Is Germany heading into a recession next year?

Prices for meat have also risen by 19.3 percent within the last year, as the cost of energy, fertilizer and feed has risen sharply, while labour shortages and minimum wage increases have made personnel costs more expensive.

Vocabulary 

Price increases – (die) Preiserhöhungen

Wood pellets – (die) Holzpellets

Heating oil – (das) Heizöl

Dairy products – (die) Molkereiprodukte

Cereal products – (die) Getreideprodukte

We’re aiming to help our readers improve their German by translating vocabulary from some of our news stories. Did you find this article useful? Let us know.

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