94 per cent of Germans believe in "Teuro" effect
Despite what the experts say, 94 per cent of German citizens are convinced that there has been drastic price rises after the introduction of the euro, and this conviction has made people spend less money, according to a research quoted by Der Spiegel.
52 per cent of Germans visit restaurants less frequently and 42 per cent buy fewer clothes, while 39 per cent are spending less on holiday trips because of their belief that the euro has meant higher prices, according to a research made by Offenbacher Marplan Forschungsgesellschaft and quoted by Der Spiegel.
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Experts maintain that prices have not risen, and statisticians explain the popular distrust with something they call "felt inflation". According to them, people often spend money on things like restaurant meals and food and that makes them immediately aware of price changes. Heavy expenses like rent are only drawn from their accounts once a month and consequently the impact of them tend to be perceived less acutely. And, say the statisticians, the price increases tend to have happened on small items, writes Der Spiegel.
