August 18, 2022

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According to polls, Inflation is the world’s biggest worry, as cost of living crisis deepens

2 min read

Joe Myers, Writer, Formative Content

  • A new Ipsos survey shows that inflation is the biggest concern facing people in 27 countries.
  • Worry about inflation has risen for 11 straight months and is joined by other economic concerns at the top of the latest What Worries the World survey.
  • The same survey shows concern about COVID-19 has fallen in recent months.
  • Indeed, for the first time since it was included in the survey, COVID-19 is not the number one concern in any of the countries surveyed.

Worry about inflation has topped Ipsos’s What Worries the World survey for the third month in a row – and concern about inflation has risen for 11 straight months.

37% of people in 27 countries around the world cited inflation as one of the top issues facing their country today.

This is a rise of 3 percentage points from May. The growing concern about inflation comes during a global cost of living crisis and surging inflation in many economies around the world.Inflation has been increasingly becoming a top global concern over the past two years. Image: Ipsos

An increased focus on the economy

Economic concerns dominate the top three, with poverty and social inequality the second most-cited concern globally, and unemployment third.

A majority (66%) also think the current economic situation is bad. However, some countries have become more optimistic since May in this respect, including India, Spain and Italy.

As concerns about the global economy have increased, COVID-19 worries have dropped. Concerns about the virus have fallen for the 11th straight month and dropped a further 4 percentage points from May to June.

See also  Why are wages not keeping up with inflation?

Indeed, for the first time since it was included in the survey, COVID-19 is not the number one concern in any of the surveyed countries. Concern remains highest in Japan, where 33% see it as one of the top concerns affecting their country.Though worries about COVID-19 have fallen, inflation has become a top concern for people, globally. Image: Ipsoshttps://open.spotify.com/embed/episode/4xF1ZtHVInp3iYCmUdnygw

What’s being done to tackle inflation?

Around the world, central banks have responded to rising inflation by increasing interest rates.

Governments have also responded with policies to help the population cope with rising costs. For example, in March, the UK government announced a cut to fuel duty for petrol and diesel. And, in Germany, the government has announced various measures, including subsidized train travel and a one-off payment to help offset rising energy costs.

However, as this latest Ipsos poll reveals and despite these efforts, inflation remains a major concern around the globe.


This article was first published in World Economic Forum


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