Inflation Concerns Down From Peak, But Still Elevated
This article is published in collaboration with Statista
by Katharina Buchholz
Inflation has become an increasingly common concern around the world. While sensitivity around the issue is staying elevated among consumers in a majority of countries surveyed by Statista Consumer Insights, worry about inflation is now lower than it was in 2023, the year after the Russian invasion of Ukraine. Inflation already started to rise around the world in 2021 due to pandemic-era supply disruptions and culminated in the 2022/23 energy crisis due to the Ukraine war. However, in the years that followed, inflation pressures continued to arise in the form of U.S. tariffs, tight labor markets and most recently the war in Iran.
While in 2023, 63 percent of respondent in the United Kingdom, 56 percent of German respondents, 53 percent of those in Italy and 52 percent in the United States all ranked inflation among major issues in their country, these numbers were down to around 41-57 percent by 2026. However, this still constitutes a significant increase over 2020, when only between 27 percent and 35 percent of respondents in these countries were majorly concerned about inflation.
But this pattern doesn't apply to all countries. Some developing nations that were plagued by inflation crises before, like Argentina or Brazil are actually less worried in the current environment (and were less concerned in 2023) than they had been previously. Conversely, nations long shielded from inflation, like Japan, are now much more worried than they were six years ago. Inflation worry has meanwhile not quieted down as much in Australia, only sinking 4 percentage points compared to 2023. Nations less touched by inflation include India and China, which decided to profit off the global energy crisis by buying sanctioned Russian oil at discounted prices.
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