{"id":19284,"date":"2023-10-04T10:06:21","date_gmt":"2023-10-04T10:06:21","guid":{"rendered":"https:\/\/www.selinawamucii.com\/news\/?p=19284"},"modified":"2023-10-04T10:06:24","modified_gmt":"2023-10-04T10:06:24","slug":"octoberfest-festival-wraps-up-on-a-promising-wages-note","status":"publish","type":"post","link":"https:\/\/www.selinawamucii.com\/news\/2023\/10\/04\/octoberfest-festival-wraps-up-on-a-promising-wages-note\/","title":{"rendered":"Octoberfest festival wraps up on a promising wages note"},"content":{"rendered":"\n

Octoberfest or Wiesn ended on October 2 with record numbers attendance, buoyed by  increasing national wages. By day 9 of the 17-day food and beer <\/u><\/a>festival, 3.4 million people had attended, more than in 2019. <\/p>\n\n\n\n

The price of beer this year was higher than normal, notching\u00a06.1%\u00a0<\/u><\/a>over the 2022 equivalent. A liter of brandy ranged from 12.6 EUR ($13.2) to\u00a014.9 EUR<\/u><\/a>\u00a0($15.6).<\/p>\n\n\n\n

The premium price at the folk festival belied the fact that Germany has some of the cheapest beer rates in Europe. At normal times, a liter goes for just 1.6 EUR for less premium brands and averages $2.57 EUR\u00a0( $2.69)<\/u><\/a>.<\/p>\n\n\n\n

The pricey sales, however, did not deter hordes from purchasing at the folk festival and traditional fashion showcase. <\/p>\n\n\n\n

This buying willingness echoes the national wage increment, which rose by 6.6% in Quarter 2, 2023,\u00a0\u00a0the highest since 2008.<\/p>\n\n\n\n

On top of that, export prices of German-made goods such as beer lager <\/u><\/a>and agricultural produce is rising. This development is helping locals earn more at home while passing the cost to the international market.<\/p>\n\n\n\n

Despite the good news, Germany\u2019s economy may shrink by 0.6%<\/u><\/a> in GDP in 2023, despite early growth projections of 0.3%.<\/p>\n\n\n\n

Beer prices, for one,  are a reflection of tightening raw material supplies. According to Octoberfest brewers, \u201ceverything<\/u><\/a>\u201d will be costly in 2023. <\/p>\n\n\n\n

Hops, a key brewing ingredient are untouchable, having grown twice costlier since 2021.  Gas prices, on the other hand, for energy purposes in distilleries rose by 50%<\/u><\/a> in June 2023 across Europe. <\/p>\n\n\n\n

Munich beer revelers, however, did not seem to feel the economic pinch this Octoberfest. As home to Germany\u2019s most lucrative purchasing population, Munich\u2019s buying power has helped in the sale of millions of beer liters.<\/p>\n\n\n\n

Lowering inflation, too, has played a role in posting the impressive results at this festive time of the year. Germany\u2019s inflation rate went down to 4.3% in September 2023, a 2.1 point drop from the 6.4% high of August.<\/p>\n\n\n\n

This means people could afford to resort back to their pockets to buy a pint of Pilsener <\/u><\/a>for a massive $14.4 EUR.<\/p>\n\n\n\n

When details of the total sales in 2023\u2019s Octoberfest emerge, they might clock way above 2019\u2019s record 1.29 billion Euro.<\/p>\n","protected":false},"excerpt":{"rendered":"

Octoberfest or Wiesn ended on October 2 with record numbers attendance, buoyed by  increasing national wages. By day 9 of the 17-day food and beer festival, 3.4 million people had attended, more than in 2019.  The price of beer this year was higher than normal, notching\u00a06.1%\u00a0over the 2022 equivalent. A liter of brandy ranged from 12.6 EUR…<\/p>\n","protected":false},"author":3,"featured_media":19285,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[],"yoast_head":"\nOctoberfest festival wraps up on a promising wages note - Selina Wamucii | Food & Agriculture News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.selinawamucii.com\/news\/2023\/10\/04\/octoberfest-festival-wraps-up-on-a-promising-wages-note\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Octoberfest festival wraps up on a promising wages note - Selina Wamucii | Food & Agriculture News\" \/>\n<meta property=\"og:description\" content=\"Octoberfest or Wiesn ended on October 2 with record numbers attendance, buoyed by  increasing national wages. 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