Helpless: Germans fear inflation more than anything else, but almost every second person has no strategy to counteract the decline in value
The fear of inflation is spreading and depressing the German citizens. As recent surveys show, 16 percent of German meals are already being cancelled due to the increased prices. The topic is on the agenda, but there are many question marks when dealing with it, as can be seen from a new infographic by Block-Builders.de it emerges.
According to a representative survey conducted by Civey, 41 percent of Germans have no strategy to counteract the decline in the value of their money. After all, one in five sees investing in equity funds as an attractive way to maintain value or purchasing power. 19 Percent of German citizens currently consider it appropriate to save money in order to cope with the situation.
In May, the inflation rate climbed to a value of 7.9 percent, according to the Federal Statistical Office. In numerous areas that are particularly relevant in everyday life, because they are indispensable, the increase is significantly higher. Heating oil and fuels are 50 percent more expensive than in the same month last year, while electricity, gas and other fuels are up 36 percent. For food and non-alcoholic beverages, however, the inflation rate is 10 percent, and the trend is rising.
In any case, there can be no question of a lack of awareness. 40 Percent of Germans currently describe inflation as their biggest concern, second only to the Ukraine war, here it is 34 percent.
But how to deal with this seems more difficult than ever for most. Especially since the investment culture in Germany is comparatively low in the broad mass. The recent stock market enthusiasm may have come to an abrupt end.
No strategy, acute challenges: the idea of seeking advice seems obvious. But this is precisely where many German citizens have had bad experiences. 14.7 Percent – the most frequently mentioned aspect in a ranking – describe having trusted the wrong advice as their biggest financial mistake
