Record prices – this is where we save the most – Austria
The record inflation in Austria has also changed people’s consumer behavior. Save and do without the motto.
According to Statistics Austria, the inflation rate reached 7.7 percent in May 2022, a new high in almost half a century. Of course, this also has consequences for retail: people have to shop more consciously and spend every euro, so customer frequency in retail plummeted by twelve percent within a very short time and that has an impact on the economy.
Where do we save the most?
The Austrians are more and more practically published: The most savings are currently made on shoes, fashion and holidays. At 65 percent, the least evil of Austrians is to wear clothes and shoes longer than emerging fashion trends dictate. Swapping and selling clothes and shopping in second-hand shops is now popular.
Vacation: Everyone wants to travel, but there is still potential for savings
Expensive holidays – hotels here cost 50 percent more
According to Statistics Austria, flight ticket prices for trips abroad were already 45 percent higher in April than in the previous year. On the one hand, rising kerosene prices drove up prices, on the other hand, greater demand for tickets also played a role. Overnight stays in hotels also cost an average of 10.2 percent more.
Although 71 percent of people say they want to travel in the next 12 months, 55 percent think there is room to save here.
everyday expenses
Savings are made on non-essential goods first. In contrast to this are everyday expenses such as heating and electricity costs – only one in ten respondents sees potential for savings here. Gasoline costs are considered absolute cost cases in every federal state and are perceived as the greatest burden after food prices. 84 percent of all considered the enormously high petrol costs to be far too expensive.
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relief package
The government will therefore provide 28 billion euros over the next few years to relieve the population after the record inflation in our country. The 14 individual measures announced include short-term relief, which should take effect today, and long-term, which will initially be applied until 2026.
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