Swiss population increasingly burdened by inflation according to survey
For two thirds of the Swiss population, the two-year rise in inflation is a burden, and for more than a quarter it is a major burden. According to a recent survey, this also has an impact on people's consumer behavior.
According to the study, those affected are not necessarily reducing essential expenditure. They make savings where they have the costs under control, explained the consulting firm Deloitte on Tuesday.
According to the survey, a good half (52%) of respondents have eaten out less in the last 12 months and visited bars or clubs less often. And 40 percent each had saved money on clothing, vacations, travel and leisure activities. More than a third (34%) had cut back on food.
All in all, 57 percent of those surveyed would have reduced their spending on non-essential items.
Hardly any cutbacks in education
The proportion of inflation-influenced savers is lower in the areas of education (10 percent), public transport (14 percent) and telecommunications (16 percent). According to Deloitte, this suggests that these areas obviously enjoy a higher priority.
Another strategy to cope better with inflation is to shop more cheaply. According to the survey, special offers and promotions have become more important for more than half (51%). Many also deliberately bought cheaper products (44%) or switched to cheaper suppliers (37%).
However, only a small minority of people are opting for second-hand goods, making things themselves or simply borrowing them in response to inflation. There does not appear to be a fundamental change in consumer behavior, says Deloitte.
Western Switzerland suffers more
In the survey, 27% of respondents across Switzerland stated that inflation had been a major burden for them in the last 12 months. A further 38% felt that rising prices were a medium burden.
Western Switzerland seems to be particularly hard hit, with 33% of respondents saying that inflation is a high burden and 40% saying it is a medium burden. Across Switzerland as a whole, almost two thirds (65%) perceive inflation as a burden, with this figure rising to almost three quarters (73%) in French-speaking Switzerland.
Costs that cannot be influenced
But rising housing rents and health insurance premiums are also a cause for concern. However, these are politically influenced prices - it is more difficult to make savings on your own initiative.
The survey shows that public opinion is roughly split in half on this issue. One part of the population is in favor of long-term, sustainable solutions, while another part prefers measures that are effective in the short term. "This division is evidence of the complexity of these issues," concludes the consultancy firm.
In Switzerland, prices are currently six percent higher on average than at the beginning of 2021. "Pulse of Switzerland" survey by Deloitte surveyed 1900 people living in Switzerland last November. (SDA)
