Every second citizen in the country is worried about surging prices, a McKinsey survey shows
© Getty Images / Guido Mieth
More than 57% of Germans consider rising inflation to be the greatest threat to their wellbeing, according to the latest poll carried out by McKinsey. The figure is up from 48% reported by the consulting firm in June.
The survey of more than 1,000 respondents also revealed that two-thirds of respondents are currently preparing for further price increases.
According to the poll, 18% see the Ukraine crisis as the top threat, while 6% and 3%, respectively, rank climate change and the Covid-19 pandemic as the biggest concern.
Over 60% of those surveyed said they were consciously saving energy at home, and around 16% have already canceled a holiday.
The poll also revealed that more than half of respondents are planning to do less Christmas shopping. Meanwhile, 12% would like to get by without spending money during the holiday season this year.
“There’s a lot going on: Four out of five people in Germany are currently consciously changing their shopping behavior in view of the new reality they perceive and feel on the account,” McKinsey expert Marcus Jacob said of the results.
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Overall, according to the survey, Germans are noticeably more pessimistic about the future than people in France, Britain, Italy or Spain, with almost every second respondent expecting the current crisis to have long-lasting effects on the economy or even a long recession.
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