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Inflation continues to be a significant concern for people in Austria. Already 14 percent can no longer pay all their bills.
In August, the inflation rate in Austria was 9.1 percent, according to the flash estimate of Statistics Austria. This is the first time in more than 12 months that it has not risen further, but it is stagnating at a very high level. According to a new consumer survey conducted by Mindtake Research on behalf of the Austrian Trade Association (n=1,010), inflation is a major concern for 83 percent of Austrians. The results are alarming:
➤ 25% have consumer debt or a current consumer loan, and for 56% of these, the debt has increased recently
➤ 18% can no longer service all debts (loans) properly
➤ 14% can no longer pay all incoming bills
➤ 75% of the population is currently buying more inexpensive groceries
➤ 19% have to limit their purchases to essential goods
➤ 52% report a deterioration in their quality of life compared to the situation before the wave of inflation, and only 7% report an improvement.
Austrians have planned the most significant savings in the following areas:
➤ Restaurant visits/gastronomy (53%).
➤ Nightlife/clubs (42%)
➤ Clothing (41%)
➤ Cinema/theater (40%)
➤ Furniture/Decor (34%)
“More than 80 percent of the population is very concerned about the strong inflation in almost all areas of life. One-fifth of people have to restrict themselves financially to such an extent that they can only afford essential goods. The non-food trade and the catering trade, in particular, are feeling the effects of this, with sales plummeting,” says Rainer Will, Managing Director of the Trade Association, the free, non-partisan lobby group for the entire Austrian trade sector.
Domestic customers deliberately refrained from the following product purchases last month due to the decline in purchasing power:
➤ Luxury products in general (50%)
➤ Clothing (38%)
➤ Furniture/deco (36%)
- source: heute.at/picture: pixabay.com
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