The energy crisis caused by the Iran conflict will cost Germany a total of 34 billion euros this year and next, according to the Süddeutsche Zeitung newspaper, citing estimates from the Munich Institute for Economic Research (Ifo).
On average, every German will lose 400 euros due to the price shock caused by the Iran conflict. This is the share of their income that German citizens will have to pay for increased energy prices imported from abroad.
Ifo assumes that inflation will be 2.9% in 2026 and will remain at 2.7% in 2027.