Inflation in Germany is noticeable in households - consumers rely on austerity measures

Created: 08/27/2022, 10:41 am

Because of rising inflation, more and more Germans are giving up shopping and saving energy.

(Iconic image) © Monika Skolimowska/ dpa

Rising inflation is also making itself felt in German households: a majority of Germans are already doing without shopping trips and are saving energy.

Berlin - Prices are rising in all areas of life: Not only are electricity and heating costs affected by inflation, products are also becoming more and more expensive in supermarkets and department stores.

This also has an impact on household consumption in Germany: at the end of the month there is less and less left in the wallet.

Surveys show that many households are now adopting austerity measures.

Inflation in Germany: Consumers forego shopping and energy

In view of the high inflation, a majority of Germans are already giving up shopping trips and saving energy.

This is the result of a representative survey by the YouGov institute on behalf of the German Press Agency, for which a good 2,000 people were interviewed in mid-August.

61 percent of those surveyed stated that they were making their energy consumption more efficient, for example by switching on the eco mode for washing machines and dishwashers.

53 percent reduce their energy consumption by cooking or showering less.

The gas price had risen sharply again in the past few days.

Survey on Austerity Measures: Inflation is the Top Concern of Germans

A large proportion of citizens are already saving elsewhere.

According to the survey, around half of those surveyed (51 percent) buy less clothing and electrical appliances.

Accordingly, larger purchases such as a car or a kitchen are also being avoided at the moment (45 percent).

When shopping, a large majority pay attention to the price and only buy what they really need.

39 percent of those surveyed also stated that they save on vacation.

Almost a third (30 percent) do not want to do without travel after two years of the Corona compulsory break.

Canceling insurance policies is not an option for a majority (51 percent).

According to a study

on behalf of the Association of German Banks (BdB), high inflation is currently the greatest concern of people in Germany.

85 percent chose inflation from a list of issues when asked what problem they are currently worried about.

78 percent are very or very concerned about the future supply of energy and electricity, and 77 percent each fear a deterioration in the economic situation and an escalation of the Ukraine war.