Record numbers of drinkers are flocking to the Theresienwiese fairground despite the soaring cost of beer
email rounding up the latestA litre of beer has never cost so much at Munich’s Oktoberfest. But that is not deterring the crowds, whose willingness to shell out €14.40 on aJörg Biebernick, chief executive of Paulaner, one of Germany’s largest breweries, learnt the hard way how big the Oktoberfest is this year. He tried to get a table for a group of friends on a recent evening and was told he had no chance. “The tents are all fully booked,” he said. “And this despite inflation.
Oliver Holtemöller, of the Halle Institute for Economic Research, said German industry and private consumption were recovering “more slowly than we expected in the spring”. The most important factor, however, was rising wages. Incomes is general are set to increase, largely thanks to a basic allowance for jobseekers introduced by the government late last year and a boost to pensions scheduled for 2024.
That boosted German annual wage growth above the country’s consumer price inflation rate for the first time since 2021. Household incomes appeared to be finally catching up with the cost of living. This year’s Oktoberfest offers evidence of the brightening mood. By its halfway point, some 3.4mn people had attended the, as it is known locally, 100,000 more than in 2019, when guests spent an eye-watering €1.25bn on its drinks, food and fairground rides. TheThe contrast to 2022 is stark. “Last year was the most terrible weather in my experience,” said Andreas Steinfatt, Paulaner’s head of trade, marketing and regional brands. “It rained on 14.
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