Savings on restaurants, clothes and groceries: two-thirds of the Swiss population are increasingly affected by inflation

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Inflation, which has worsened over the past two years, is a burden for two-thirds of the Swiss population and a major burden for more than a quarter. Since inflation also leaves its mark on wallets in Switzerland, this also affects people’s consumer behavior.

For example, you reduce non-essential expenses. So you save money when you keep costs under control yourself, consulting firm Deloitte said Tuesday.

According to a survey, a majority of respondents (52%) have been going out to eat less and visiting bars or clubs less often in the last 12 months. 40 percent had saved on clothing, holidays, travel and leisure activities. More than a third (34%) gave a red pen when it came to food.

As a result, 57 percent of survey respondents reduced their non-essential expenses.

There are almost no compromises in education

The proportion of savers affected by inflation is lower in the areas of education (10%), public transportation (14%) and telecommunications (16%). According to Deloitte, this shows that these areas are clearly more important.

Another strategy to better deal with inflation is to buy cheaper. Special offers and promotions have become more important to more than half (51%), according to the survey. Many deliberately purchased cheap products (44%) or turned to cheaper suppliers (37%).

But relying on used goods, making things or simply borrowing is only the answer to inflation for a small minority. Deloitte says there does not appear to be a fundamental change in consumer behavior.

Western Switzerland suffers more

27 percent of respondents across Switzerland said inflation had been a major burden for them in the last 12 months. 38 percent think that increasing prices are a moderate burden.

French-speaking Switzerland appears to be particularly hard hit, with inflation at 33 percent high and 40 percent a moderate burden. In Switzerland as a whole, almost two-thirds (65%) perceive inflation as a burden, and in French-speaking Switzerland the figure is almost three-quarters (73%).

Costs that cannot be affected

However, rising apartment rents and health insurance premiums are also a cause for concern. But these are politically influenced prices; It is more difficult to save money on your own initiative here.

The poll shows that public opinion on this issue is roughly divided. While some of the population advocates long-term, sustainable solutions, some prefer short-term effective measures. “This episode demonstrates the complexity of these issues,” the consultancy summarizes.

Prices in Switzerland are now on average six percent higher than at the beginning of 2021. Last November, 1,900 people living in Switzerland were surveyed for Deloitte’s “Pulse of Switzerland” study. (SDA/smt)

Source :Blick