Insolvency wave rolls – expert: “Inflation at the end of the year in double digits”


Inflation, higher interest rates, energy costs: inflation will be in double digits by the end of the fourth quarter at the latest, said Gerald Zmuegg, director of the Finanzombudsteam advisory platform in an interview with Jana Pasching. “In the most likely scenario, we see an inflation rate of 15 percent because producer prices for companies average 30 percent.” It is a known fact that at least half of these prices will be passed on to consumers with a delay of three to six months, explains the financial expert.

The number of bankruptcies rose by 121 percent in the first half of 2022. However, the peak has not yet been reached. “Unfortunately, the current developments are just the beginning and have an impact on the economy as a whole.” In public discussions, inflation is always talked about among end consumers, which Zmuegg says is a mistake. Because: “What happens before, if companies can’t pay their bills, means that the bankruptcy wave is picking up again.”

Source: Krone


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