PRESS RELEASES 2008
Survey: private investors expect a further rise in petrol, energy and food prices
– More than three quarters of those surveyed called for a reduction in petroleum tax – Investors no longer see commodity investments as niche products
Although petrol prices have already reached a historical high, nearly all German private investors are expecting a further increase in fuel prices. Moreover, the vast majority are also expecting electricity and food prices to rise further. At the same time more than three quarters are of the opinion that the government should lower petroleum tax and see higher opportunities for commodity investments. More than three quarters assume that financial investments in commodities will become established in the long term.
In a representative survey carried out among around 1300 German private investors by the market research institution TNS Infratest on behalf of DZ BANK AG, 96 percent of those questioned said that they expect petrol prices to increase further in the next six months. Investors were not a great deal more optimistic as regards the short-term development of electricity prices. 89 percent of those surveyed are allowing for a further increase. The expectations are somewhat less gloomy as regards food prices. However, 67 percent of the investors also expect meat prices to increase within the next six months, 66 percent expect bread to get dearer and 54 percent assume they will have to pay more for dairy products.
A lot more women than men are calling for a reduction in petroleum tax
Investors have a clear position in the current debate about the reduction of petroleum tax. More than 78 percent of those expecting petrol prices to increase explained that the government should be responsible for lowering petroleum tax. The difference in opinion among the sexes was noticeable here. 85 percent of female investors stated that petroleum tax must be cut, while 73 percent of male investors shared this opinion.
Furthermore, the number of people in favour of a tax reduction gradually decreases the higher the household income becomes. Among those surveyed with a monthly net household income below EUR 2000, 84 percent were in favour of a reduction. Among those with more than EUR 3000 net per month, 71 percent were in favour.
Higher opportunities for commodity investments / oil certificates in demand
Apart from the risks, investors obviously also see opportunities in the rise in commodity prices. More than three quarters stated that commodities will be a long-term topic on the investment market. The great interest in commodity certificates on the stock exchanges shows that many investors have already drawn conclusions from this assessment. The five issues of AKZENT Invest Bulle & Bär Öl Garant-Zertifikate, that DZ BANK meanwhile issued, had to be ended prematurely in some cases because of the heavy demand. “Due to the growing interest in commodity certificates we have already enhanced our range of products considerably and will continue to do this“, explains Peter Schirmbeck, Head of Division at DZ BANK responsible for the certificate brand AKZENT Invest.
The data were collected in the period from 16 May to 23 May 2008 within the context of a telephone survey. The sample of 1,279 is representative for persons in the German population aged 18 and over with an affinity for investments.
Silvia Conesa, Spokeswoman DZ BANK AG
Tel.: +49 69 7447-90568