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Ifo Institute: Iran-Iraq War impacts low-income German households
A study by the Ifo Institute reveals that the economic consequences of the Iran-Iraq War are disproportionately affecting low-income households and retirees in Germany. The research indicates that the price shock caused by the conflict has led to an estimated 16.8 billion euro increase in consumer spending for German households.
The bottom ten percent of households are losing up to 2.87 percent of their disposable income, compared to just 0.65 percent for the highest earners. On average, all households face a loss of approximately 1.15 percent of their disposable income.
Retirees are also significantly impacted due to a lack of wage income to act as a buffer and a high proportion of their budget dedicated to heating and energy costs. Specifically, retiree couples are losing 1.53 percent of their income, while single seniors are losing 1.45 percent. The study notes that rising prices for heating oil and fuel, driven by the conflict, are also increasing transport costs and affecting other goods.
Entities
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The highest-income households lose an average of 0.65 percent of their disposable income. www.zeit.de · madeinbocholt.de · www.berliner-sonntagsblatt.de
- [● 3 SOURCES] The average loss across all German households is 1.15 percent. www.zeit.de · madeinbocholt.de · www.berliner-sonntagsblatt.de
- [● 3 SOURCES] Total consumer spending for German households has increased by approximately 16.8 billion euros due to the Middle East crisis. www.zeit.de · madeinbocholt.de · www.berliner-sonntagsblatt.de
- [● 3 SOURCES] A study by the ifo Institute shows that price increases due to the Middle East conflict disproportionately affect low-income households in Germany. www.zeit.de · madeinbocholt.de · www.berliner-sonntagsblatt.de
- [● 2 SOURCES] Retired couples lose 1.53 percent of their income, while single seniors lose 1.45 percent. madeinbocholt.de · www.berliner-sonntagsblatt.de
- [● 3 SOURCES] The poorest ten percent of households lose an average of 2.87 percent of their disposable income. www.zeit.de · madeinbocholt.de · www.berliner-sonntagsblatt.de