Price Inflation Study: July 2022

That inflation impacts consumers is obvious, but we discovered different emotional reactions based on our study among 1,250 people in the Netherlands, Germany, the UK, Denmark, and Norway. The UK and Germany feel the most emotional of all countries. 33% of people in Germany are very much affected by price inflation, compared to 23% in the UK. The inflation affects the Dutch, Danish, and Norwegian people less. Emotions that are felt most often are anger, worry, and fear. The Nordics are almost neutral concerning inflation, which is in line with lower expressed financial impact.

The study shows 6 different reactions to the inflation crisis. While some save on frequently bought categories or opt for cutting down on leisure activities, others are emotionally and socially affected or even cut on necessities.

Dutch people are more pragmatic, saving on the most frequently bought categories like groceries, clothes, and holidays. While people in the UK and Norway appear to be more ‘fun savers’, cutting budgets on leisure, holidays, and social activities. Germans notice a big impact on both their financial situation and mental health, which makes them actively save in the broadest sense, including clothing and groceries. Holidays come in third as a way to keep money in their pockets.