Survey: The German's Biggest Concern at Prices

Speeding prices in almost all areas of life is causing more concern in Germany than anything else. Even the war in Ukraine and the coronary pandemic have not caused such concern. This is the result of a recent McKinsey Company survey.

About 40 percent of the more than 1,000 respondents said their biggest concern is currently inflation. 34 per cent of respondents said it was due to the invasion of Ukraine and only eight per cent of the COVID-19 pandemic. Almost a third of respondents (29 per cent) fear that due to price hikes they will have to make restrictions on their lifestyle. Fear of inflation is especially pronounced in low income people. Two-thirds of respondents assume that over the next 12 months, prices will continue to rise.

The two years of the coronary pandemic have left a trail. But Ukraine's inflation and conquest are making people more pessimistic than ever before,” said in summary for the poll results McKinsey expert Marcus Jacob. People are feeling higher prices and find that their wallet remains less at the end of the month. Even those with high incomes are limiting their spending.

According to the survey, two thirds of respondents have recently spent more money on food, 61 percent more on gasoline and transport costs, as well as on energy. The survey's result: Almost every third has reduced its consumption in areas such as cosmetics, clothing, entertainment and travel expenses.