inflation eats up your savings
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Inflation rose to 7.9 per cent in May. If you still get around a percentage point with your fixed deposit, you can calculate how the value of your savings will decline.
Every day while shopping at the supermarket, at the gas station, or online, you can feel that prices are rising at a pace you’ve never experienced before.
What is happening now? And what does that mean for your hard earned money that is currently “sucking up” into a savings book or checking account. BILD spoke to stock exchange professional Jurgen Schmidt (54) about “share desire”.
jurgen schmidt: “The figures are startling: after nine years, your 10,000 euro savings still only has 5,002 euros of purchasing power with an inflation rate of 8 percent. So your money is only halfway after 9 years.”
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