The Ipsos Cost of Living Monitor reveals that despite a slowdown in inflation rates, the cost of living crisis continues to impact consumers globally. Key findings from the report include:
Pessimism about inflation: A majority of people across 29 out of 32 countries believe it will take over a year for inflation to normalize or that it may never return to pre-crisis levels.
Financial struggles persist: The number of people facing financial difficulties has remained relatively unchanged since 2022, with 26% still struggling in April 2024.
Blame on government policies: While the global economy is seen as the primary driver of rising prices, 68% of respondents also blame their government's policies for exacerbating inflation.
Decreased expectations of rising inflation and interest rates: Fewer people now anticipate further increases in inflation and interest rates compared to previous surveys.
Uncertain outlook for disposable income: While there is some optimism about increased disposable income, a significant portion of respondents (29%) still expect to have less money to spend in the coming year.
Overall, the report paints a picture of cautious optimism tempered by continued financial concerns. While the slowdown in inflation offers some relief, the lasting impact of the cost of living crisis on consumers' financial well-being remains evident.
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