Inflation and cost-of-living continues to bite across Europe

New data from our latest Consumer Compass Report reveals the ongoing impact of the cost-of-living crisis on Europe and the critical areas consumers want leaders to tackle over the next five years.

Europeans continue to feel the pinch

High levels of inflation and the cost-of-living crisis continues to take its toll on Europeans. In almost all markets tracked, controlling the spiraling prices is seen as the highest priority for consumers, with 37% of Europeans ranking it as the most pressing matter for leaders to tackle over the next five years.

The impact is being particularly felt in France, with almost half (47%) of respondents saying that leaders must get a hold on rising inflation in order to mitigate the effects of the cost-of-living crisis. Italy is the only country to want leaders to prioritise other areas ahead of inflation, with healthcare (40%) and the environment and climate change (35%) taking the top spots.

Across Europe, women are more likely than men (40% versus 33%) to report feeling the growing impact of the crisis, calling on leadership to place it at the top of the political agenda.

With various elections taking place this year including the European elections in June and a UK general election in July, consumers across the continent will want to see which measures will be put in place to ease the squeeze on their households.

What else do Europeans want leaders to prioritise?

While the cost-of-living crisis spans across Europe, there are other key areas consumers want leaders to focus on. Healthcare is a universal priority, according to 30% of Europeans, but it’s particularly important to both Italy and Spain (40% and 37% respectively). In the Netherlands (39%) and Germany (34%), immigration ranks highly.

Despite the stress of cost pressures on Europe’s day-to-day households, the environment and climate change is still front of mind for many. Italy is the most likely to say this is an area that leaders need to prioritise (35%), with the UK lagging behind at just 21%.

A united front, with a few differences…

Ultimately, Europeans are unified by their concern around inflation and the cost-of-living crisis. Over the next five years, it needs to be top of the agenda for leaders, both national and beyond. However, there are some interesting differences across the region when it comes to other important issues.

To find out more about what Europeans think and feel about topics such as pensions, taxation, education, housing and much more, you can download the full report for free today.

*Savanta’s European Consumer Compass is quarterly survey of over 3,000 respondents in Europe. The research explores consumer sentiments and confidence across 6 European markets: the Netherlands, France, Spain, Italy, Germany and the UK.