economists say that the 49 euro monthly transportation pass to be implemented will not significantly alleviate consumer pressure. Germany's natural gas storage facilities currently have more than 95% full load. Germany calls on the people to save money.
According to German media reports, starting from January 2023, Germany will launch a 49 euro monthly transportation pass policy across Germany. But economists say that the upcoming 49 euro transportation ticket is different from the 9 euro transportation ticket that has been implemented for three months and does not have the conditions to curb inflation .
Baden-Württemberg Bank (LBBW) economist Jens-Oliver Niklasch said, "You can't expect that the 49 euro ticket can become a brake for inflation. Other economists also hold a similar view that inflation will be pushed down, but to a very small extent, and is expected to be only 0.1 percentage point."
Source: BR
Federal Statistics Bureau data shows that the previously implemented 9 euro tickets significantly suppressed inflation in a limited period from June to August, and the fuel tax refunds introduced at the same time have prevented prices from rising quickly. In September, relief for public areas and local passenger transport ended, with local railway transportation rising by 82.5% and comprehensive passenger transport rising by 175.3%. The cancellation of
9 euro tickets and fuel discounts has lifted inflation in September to 10.0%, the highest level since 1951. "The exit of preferential policies means an increase in inflation of a half percentage point." Sebastian Dullien, director of science at the German Institute of Macroeconomics and Business Cycles (IMK). Experts expect consumer prices to rise more in the coming months.
Natural gas storage has exceeded 95%
According to German media reports, currently, Germany's natural gas storage facilities have more than 95% of the capacity. The Federal Network Office said. Germany's natural gas storage facilities are almost completely full, although the Russian gas pipeline is still shutting down.
"Fullying storage facilities will help us in the winter. Purely in terms of quantity, the natural gas in the storage facilities is enough for about two cold winter use. But consumption must be reduced by at least 20%. "
Source: Tagesschau
Currently, storage facilities in 30 locations in Germany are being filled. In recent years, as much as 60% of Germany's natural gas consumption has been covered by domestic storage facilities. According to the Federal Ministry of Economic Affairs, Germany has the largest natural gas storage capacity in Europe. The total capacity of about 47 storage facilities in these more than 30 locations is 24.6 billion cubic meters. Germany's largest natural gas storage facility is located in Rehden, , Lower Saxony, with a capacity of about 4 billion cubic meters.
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