Ifo: Iran war hits poorer households and pensioners in particular
In the average of all households, the loss is about 1.15 percent of the disposable income. Precisely because there is no European
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Summary
In the average of all households, the loss is about 1.15 percent of the disposable income. “Especially because there is no European price cap for this shock as in the energy crisis in 2022, the burden ends up almost unabated in households – and especially in those with low incomes,” says Ifo expert Andreas Peichl. Retiree couples lose 1.53 percent due to the price shock, single seniors lose 1.45 percent of their income. According to calculations by the Munich-based Ifo Institute, the ten percent of the poorest households lose up to 2.87% of their disposable income.
Furthermore, The reason for this, according to the Ifo researchers, is that pensioners have no wage income as a buffer and they have to spend an above-average share of their budget on heating and energy costs. The basis of the calculations is a comparison of economic forecasts before and after the start of the war. Pensioners are also hard hit by older people.
In addition, Since the start of the Iran war in late February, the prices of heating oil and fuels have risen sharply. According to Ifo, however, the calculated values are upper limits, as consumers usually adjust their consumption behavior in the event of strong price increases.
Cross-referenced from 4 sources.
Factual coreconfirmed by several independent voices
In the average of all households, the loss is about 1.15 percent of the disposable income. “Especially because there is no European price cap for this shock as in the energy crisis in 2022, the burden ends up almost unabated in households – and especially in those with low incomes,” says Ifo expert Andreas Peichl.
reliability low1/2 sourcesRetiree couples lose 1.53 percent due to the price shock, single seniors lose 1.45 percent of their income.
reliability low1/2 sourcesAccording to calculations by the Munich-based Ifo Institute, the ten percent of the poorest households lose up to 2.87% of their disposable income.
reliability low1/2 sourcesThe reason for this, according to the Ifo researchers, is that pensioners have no wage income as a buffer and they have to spend an above-average share of their budget on heating and energy costs.
reliability low1/2 sourcesThe basis of the calculations is a comparison of economic forecasts before and after the start of the war.
reliability low1/2 sourcesPensioners are also hard hit by older people.
reliability low1/2 sourcesSince the start of the Iran war in late February, the prices of heating oil and fuels have risen sharply.
reliability low1/2 sourcesAccording to Ifo, however, the calculated values are upper limits, as consumers usually adjust their consumption behavior in the event of strong price increases.
reliability low1/2 sources
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