December 7, 2022

Valley Post

Read Latest News on Sports, Business, Entertainment, Blogs and Opinions from leading columnists.

Consumers Defending Inflation – Embracing Behaviors From the 1970s | Economy news

Position…defense against inflation take the European consumerswho are quick to reduce spending on daily “shopping”, and even reduce the market food.

With inflation reaching 10% in September (9.9% according to final Eurostat estimate) ¾ of families From the Old Continent they are forced to “cut” the money that they use in supermarkets, fruit shops, butchers, etc.

At least that’s according to new research by the analytics company IR In six major markets in Europe, where 71% have already made major changes In terms of how it is consumed.

In fact, 58% admit that the aforementioned reductions also relate to the so-called Necessary goods. 35%, however, said they had put a “hand” on. savings or he borrows for Pay bills

“It turns out that consumers’ willingness to spend is decreasing and this trend is likely to get worse.” Estimates Ananda Roy, Vice President, International Republican Institute.

Rising food, fuel and energy prices absorb most of it family budgetswhere Europe faces danger Lack of energy in winterdue to reduced shipments of natural gas from Russia.

As a result, the consumer climate He slips to an all-time low, with analysts ruling him out recession scenario in many eurozone economies, including Germany and Italy.

According to Roy, the inflationary “exhaustion” of Europeans actually leads to adopting the attitudes that were recorded in the seventies and eighties. This includes reducing servings, switching to discount chains, buying lower quality, longer lasting foods, etc.

It is a sign that more than 50% of participants in the IRI survey plan to purchase less foodWhile 47% intend to reduce traffic to Restaurants, bars and cafes.

See also  Dow futures loom, bitcoin bounce to $20k; Beware the bear market

Worse still, there are no indications that the inflationary crisis is abating.

Read also

First Battle, Battle of Corfu, Committee, Canals and Garbage Truck

What do billionaires do when they retire? A day with Jeff Bezos

Stunning Iola Collection Auction in Paris