This study investigates the effects on consumer prices of rounding final total prices or individual prices in the retail sector. The empirical analysis based on around  70,000 sales receipts shows that, when the final total price is rounded commercially to the nearest whole 5 euro cent increment, virtually no effect on the price level can  be expected.

The Bundesbank's climate-related disclosures for 2023 update and supplement last year’s results, in line with the Eurosystem’s decisions.

The information contained in the study is of interest to all market participants affected by the payment behaviour of private individuals, most notably retailers, credit institutions, card issuers and, last but not least, the Deutsche Bundesbank itself. Players wishing to foster more innovation in the field of payments need to offer a genuine advantage over established schemes and procedures and, in particular, to heed users’ perceived security needs.