2024年生活成本調查 IPSOS COST OF LIVING MONITOR A 32-country Ipsos Global Advisor Survey

IPSOSCOSTOFLIVING

MONITOR

A32-countryIpsos

GlobalAdvisorSurvey

May2024

?IpsosCostofLivingMonitor

CONTENTS

3

Expectationsforthe

future

1

TalkingPoints

4

Whyareprices

rising?

2

Consumer

perceptionsand

understanding

5

Methodology

?IpsosCostofLivingMonitor2

Introduction:the

WelcometothesixtheditionoftheIpsosCostofLivingMonitor,a32-countrysurveywhichtrackshowpeoplearoundtheworld

feelabouttheirfinancesduringthepolycrisis.

Aroundtheworldinflationratesinmanycountriesarebeginningtofalland

peoplearestartingtonotice.Butafeelgoodfactorisalongwayaway.Inour

trackingresearch,mostconsumersstill“feel”higherprices.Eveninthemost

optimisticpartsoftheworld,barelyaquartertellustheyare“l(fā)iving

comfortably”.

Sowhilewebegan2024with

people

returntonormal?

lessworriedthantheywereabout

risinginterestrates

,inthesecond

quarterofyear,forecastsforratecutsarebeingpushedfurtheraheadand

centralbankersarenotrulingoutfurtherrateincreases.

Atthesametime,inmanycountries,

theproportion“findingitdifficult”to

managetheirfinancesremainsashighasever.Manypeopledon’tthinkthey

willhavemoremoneytospendanytimesoon.Foreverypersonwhosaystheirdisposableincomewillriseoverthe

nextyear,wefindanotherwhoexpectsittofall.

Overall,thereisgenerallyaclear

correlationbetweenGDPpercapitaand

howpeoplefeelrightnow,withless

optimisminthelessaffluentcountries.

Asweapproachthehalfwaypointin

whathasbeencalled

thebiggest

electionyearever

,cost-of-living

concerns,andgovernments’handlingofit,areoftenthedefiningissueinthemindsofvoters.Thechallengefor

politicians,evenaseconomies

improve,istranslatingthisintoapublicrecognitionofprogress.

IntheUS,withNovember’selection

fast-approaching,manyAmericansstillfeelcostoflivingisahugeproblem,

whateverthemorepositivemacro-economicindicatorsmaysay.Thepolarisationofthepoliticaldebate

?IpsosCostofLivingMonitor3

Introduction:thereturntonormal?

andofmediacoverage,mayexplain

this.AstheFinancialTimeshas

recentlyremindedus,thereis

farmore

coverageofrisingpriceswhentheyare

high

thanwhentheyarelow,and

RepublicanvoterswillbeexposedtomorenegativenewsthanDemocrats.

InAmerica,despitetherelative

strengthoftheeconomy,political

beliefseemstonowtrumpeconomic

factswhenconsumersjudgetheeconomy.

This

separationofrealityfrom

perception

issomethingIpsoshas

measuredforoveradecade,but

whereasithasalwaysappliedtocrime,

toseeitsostarklyvisibleoneconomicprogressandnumberslikeinflationissomethingrelativelynew.

Inthefollowingpages,wehighlight

someofthekeythemesfromthedata,followedbytheresultsforall32

countriesinthesurvey.Thereismuchfoodforthought–includinghow

people’sonthegroundexperiences

collidewithtoday’snationaleconomicstatistics.Welookforwardto

discussingwithyouwhatitallmeansforyourcountry,categoryorindustrysector.

BenPage,CEO,Ipsos

Tolearnmoreaboutconsumerattitudestoinflationandexplore

previousissuesoftheIpsosCostofLivingMonitorgoto:

/en/inflation

Keepintouchwithhowpublicattitudesandconcernsaroundtheworldare

changingbybookmarkingourGlobal

ConsumerConfidenceIndexand

What

WorriestheWorld

webpages.

?IpsosCostofLivingMonitor4

Talkingpoints

5

?IpsosCostofLivingMonitor

Ataglance

26%

saytheyarefindingthingsfinanciallydifficult(32-

countryaverage).Thishaschangedlittleinthelasttwoyears;inJune2022,29%

saidthingswerefinancially

difficult.

48%

thinkthatinterestrates

willriseintheircountryinthenext12months.Down10ppsinceNovember2023.

?IpsosCostofLivingMonitor

30%

thinktheirdisposable

incomewillriseinthenextyear.Buttwenty-ninepercentthinkitwillfall.

33%

saythecostoflivingcrisishasbeenworseintheir

countrythanelsewhere.

Hungary,Argentinaand

Türkiyearethethree

countrieswhereamajoritysaythisthecase.

6

72%

inNorthAmericathinktheywillbepayingmorefortheirfoodshoppinginthenextsixmonths.HigherthaninEurope(70%),LATAM(67%)andAPAC(60%).

29

In29countriesamajoritythinkitwillbeatleastafterthenextyearbeforeinflationreturnstonormalintheircountry,ifever.

Howpeoplearefeelingnow

Findingitdifficult圖

Twenty-sixpercentarefindingitfinanciallydifficult

Thisfigurehaschangedlittleinthelasttwoyears.BackinJuly2022,29%saidtheywerefindingit

financiallydifficult,andthisfigurestoodat27%inNovember2023.

However,lookingattheglobalpicturemasks

big

differencesbycountryinhowpeoplearedoing

.In

countrieslikeTürkiye,Poland,GreatBritainand

Germanythenumberstrugglingappearstohave

peaked.WhileintheUS,Canada,Australia,andItaly,theproportionwhoarefindingitdifficultisashighasit’sbeeninthelasttwoyears.

Livingcomfortably

Thirty-ninepercentsaytheyarelivingcomfortably/doingalright

Onceagain,weseebigdifferencesbycountry.Thistimelastyear,only16%inPolandsaidtheywere

comfortable/alright,now31%saythisisthecase.

India,Germany,France,GreatBritainandIndonesiahaveallseenincreasesinthosecomfortable/alright.

Meanwhile,thereverseistrueintheUS,Canada,

Belgium,andBrazil,withthenumberdoingatleast

alrightfalling.LookingattheUS,inthiselectionyear,

Americanssayinflationistheirnumberoneissue

andthelast12monthshaveseenthosedefining

themselvesaslivingcomfortably/alrightdeclinefrom

56%to43%.

Whenwillinflationend?

Twenty-onepercentthinkinflationintheircountrywillneverreturntonormal

ThisnumberisunchangedsinceNovember2023andis2pphigherthanthistime12monthsago.Forty-four

percentinJapanthinkthecountrywillneversee

inflation“returntonormal”,thehighestinthissurvey,followedbyBelgium(34%).

Lookingatthosewhothinkitwillbeatleast12monthsbeforenormalreturns(combining“afterthenextyear”and“never”),thissentimentishigherinEurope.

France,BelgiumandtheNetherlandsareinthetopfiveforthinkingitwillbe

atleastayearbeforeinflation

returnstoitspreviouslevels

(79%,75%and73%respectively).

?IpsosCostofLivingMonitor8

Expectationsforthefuture

Pastthepeak?

Fewerpeoplethinkinflationwillcontinuetoriseinthenextyear

Fifty-eightpercentacrossthecountriessurveyedthinktherateofinflationwillriseinthenextyear.

Thisisthelowestlevelwehaverecordedinthis

survey

andisnow17pplowerthanitwasinJune2022.

InSingapore76%thinktherateofinflationwillriseoverthenexttwelvemonths,thehighestofallthe

countriessurveyed.Thishasincreasedby10ppsinceNovemberlastyear.

Whilefewernowthinktherateofinflationwill

increase,notmanythinkitwillfall.Only14%across32

countriesexpectthespeedatwhichpricesarerising

willdecrease.

Moneytospend?

Asmanythinktheirdisposableincomewillriseasthinkitwillfall

Threeinten(30%)thinktheywillhavemoremoneytospendinthenextyear,while29%thinktheir

disposableincomewillfall.Whilethesefiguresareanimprovementtothepessimismpeoplefeltin2022,ithaschangedlittleinthelasttwowaves.

However,manycountrieshaveseenariseinthe

numberofpeoplewhothinktheirdisposableincome

willfall

,includingTürkiye,Hungary,Argentinaand

NewZealand,wherepeoplearemostlikelytofeelthis.InSweden,thenumberwhothinktheir

disposableincomewilldeclinehasfallen14ppsince

November2023,downto26%.

Areratecutsontheirway?

Fewerexpectaninterestratesriseinthenextyear

Theproportion

whoexpectafurtherincreasein

interestrateshasdeclinedby10pp

sinceNovember

2023.Forty-eightpercentthinkinterestrateswillrise,downfrom58%lastautumnand64%inJune2022.

Twelvecountries-Sweden,GreatBritain,SouthKorea,Belgium,Italy,NewZealand,theNetherlands,France,Australia,Argentina,UnitedStates,andSingapore-

haveseenatleast

adouble-digitfallinthosewho

expectratestorise

.

Incontrast,JapanandTürkiyehaverecordedtheir

highestscoresforthinkingrateswillriseacrossthe

sixissuesoftheIpsosCostofLivingMonitor.

?IpsosCostofLivingMonitor9

Whyarepricesstillrising?

Inflationremainsaglobalissue

Seventypercentblametheglobaleconomyforinflation

Theglobaleconomyisseenasthebiggestdriverof

risingcostofliving

,aheadof“mygovernment’s

policies”andinterestrates.

SouthKoreaandThailandarethecountriesmost

likelytosaythattheirnationalgovernmentismostatfaultforhigherprices(83%and80%respectively).

Francehasseena6ppincreaseinthoseblamingthegovernment,with74%nowsayingthisisthecase,itshighestscoreacrossthesixwavesofthisstudy.

Immigration,workers’payrisesandtheCovid-19

pandemicaretheleastlikelytobeseenasdriversof

thecostoflivingcrisis.

Theroleofinterestrates

Sixty-sevenpercentsayinterestratesarefuellinginflation

SouthKorea,SouthAfricaandTürkiyearecountrieswhichparticularlyblame

interestratesfordrivingthe

costoflivingcrisis

(81%,80%and78%).

Australiaisfourthwith78%citinginterestratesascontributingtotherisingcostofliving.

TheNetherlandsisthecountrywhichhasseenthe

biggestdeclineinpeoplechoosinginterestratesasmakinginflationworse.Indeed,inthisissueofthe

IpsosCostofLivingMonitor,peopleintheNetherlands

haveseenanimprovementinhowtheyaredoingfinancially,withthenumberofpeoplesaying

theyarelivingcomfortablyrising.

Excessive

profits

Two-thirdsthinkbusinessesmakingexcessiveprofitsisdrivinginflation

Whilemanyofthefactorspeopleseeasdriving

inflationarefalling,

businessesmakingexcessive

profits

or“greedflation”,hasremainedataconsistentlevelthroughoutthelasttwoyears(around65%).

Somemarketshaverecordedtheirhighestfiguresonthismeasureinthisissue.InAustralia,74%now

believebusinessesmakingexcessiveprofitsismakingproductsandservicesmoreexpensive,upfrom69%lastNovember.

However,incountrieslikePoland,BrazilandPeru,

fewerpeoplethinkthisisacauseofrisingpricesthan

inpreviouswavesofthissurvey.

?IpsosCostofLivingMonitor10

Consumerperceptions

andunderstanding

11

?IpsosCostofLivingMonitor

Howwellwouldyousayyouaremanagingfinancially

thesedays?

Wouldyousayyouare…?

Base:24,801onlineadultsunderage75across33countries,interviewedMarch22-April5,2024

Country

32-countryaverage

China

India

Netherlands

Sweden

Israel

GreatBritain

Indonesia

Germany

NewZealand

Singapore

Australia

UnitedStates

Canada

Spain

SouthKorea

Ireland

Belgium

France

Hungary

SouthAfrica

Mexico

Poland

Brazil

Italy

Thailand

Japan

Colombia

Peru

Malaysia

Chile

Türkiye

Argentina

Living

comfortably

Doing

alright

Justaboutgettingby

Findingitquitedifficult

Findingitverydifficult

33%17%9%

51%23%5%1%

37%19%8%5%

36%25%9%3%

35%

28%30%32%

31%

38%

28%

21%27%

10%

9%

14%

18%

10%

15%

12%

15%

7%

5%

8%

4%

7%

9%

6%

13%

31%12%12%

27%15%13%

36%14%8%

33%20%7%

37%15%9%

39%16%7%

39%17%7%

37%14%12%

31%19%17%

32%27%9%

51%10%5%

33%19%13%

38%20%10%

47%16%6%

43%15%10%

30%

32%

33%

10%

14%

53%18%6%

34%17%

24%19%

36%21%

11%

20%

27%

26%

26%

7%

16%

13%

10%

15%

11%

16%

14%

13%

10%

5%

11%

10%

10%

5%

11%

7%

5%

6%

6%

6%

5%

8%

5%

6%

8%

6%

3%

14%

10%25%

26%

24%

23%

23%

17%

15%

12%

29%

30%

26%

26%

30%

30%

24%

34%

22%

28%

32%

23%

26%

33%

35%

35%

47%

27%

27%

27%

37%

31%

19%

?IpsosCostofLivingMonitor12

%findingitdifficult/verydifficult

Country

Howwellwouldyousayyouaremanagingfinancially

thesedays?

Wouldyousayyouare…?

%findingitdifficult/verydifficult

Base:24,801onlineadultsunderage75across33countries,interviewedMarch22–April5,2024

April‘22June‘22

November‘22April‘23

November‘23April‘24

Türkiye

France

Italy

Australia

Canada

GreatBritain

Poland

Germany

Japan

Spain

66%64%

50%

47%

48%

44%

22%

23%

16%

30%

23%

24%

30%

32%

31%30%

28%

30%

24%

20%19%

19%

27%

28%

24%23%

22%

27%

28%28%

20%19%

22%

26%

23%22%

17%

18%

22%

26%

17%15%

16%

20%

22%

24%

17%17%

23%

26%24%

24%

26%25%

21%23%

21%

23%

22%

16%

16%

23%

UnitedStates

22%

18%

22%

23%

?IpsosCostofLivingMonitor13

Howwellwouldyousayyouaremanagingfinancially

thesedays?

Wouldyousayyouare…?

%Livingcomfortably/doingalrightcomparedwithGDPpercapita

Base:24,801onlineadultsunderage75across33countries,interviewedMarch22-April5,2024

SourceforGDPpercapitadata:IMF

%living

70%

60%

50%

40%

30%

20%

10%

0%

90000

80000

70000

60000

50000

40000

30000

20000

10000

0

comfortably/doingalrightGDPpercapita

?IpsosCostofLivingMonitor

14

Howwellwouldyousayyou

aremanagingfinanciallythesedays?

Wouldyousayyouare…?

%findingitdifficult/verydifficult

Base:24,801onlineadultsunderage75across33countries,interviewedMarch22-April5,2024

Incomelevel

Low

MiddleHigh

42%

39%

38%37%

38%

31%

30%30%29%

29%

23%

21%

20%

19%

18%

Jun-22Nov-22Apr-23Nov-23Apr-24

?IpsosCostofLivingMonitor16

Overthelastfewyears,many

countrieshavebeen

experiencingwhathasbeendescribedasacost-of-livingcrisis.Howwouldyou

describetheexperiencein.yourcountry?Compared

withneighbouringcountriesourexperiencehasbeen…

Base:24,801onlineadultsunderage75across33countries,interviewedMarch22-April5,2024

74%12%

7%

69%17%

6%

63%12%

16%

43%33%

16%

43%21%

20%

40%27%

30%

39%40%

10%

39%28%

17%

30%36%

19%

30%28%

23%

28%37%

28%

25%28%

29%

24%47%

18%

23%32%

40%

22%37%

39%

22%34%

36%

22%42%

29%

20%29%

45%

19%40%

29%

18%40%

28%

14%18%

51%

Country

32-countryaverage

Hungary

Argentina

Turkey

SouthKorea

Israel

SouthAfrica

Italy

GreatBritain

Spain

Japan

Ireland

Poland

Colombia

NewZealand

Malaysia

Brazil

France

Sweden

Canada

Germany

Peru

UnitedStates

Belgium

Chile

Indonesia

Mexico

Thailand

Singapore

Australia

Netherlands

India

China

WorsethanothercountriesAboutthesameBetterthanothercountries

33%31%25%

38%31%21%

37%21%17%

36%37%21%

35%41%11%

35%36%25%

33%39%23%

32%33%26%

30%37%21%

30%44%15%

12%

19%

66%

20%32%

31%

?IpsosCostofLivingMonitor17

Wouldyousaythattherateofinflationinyourcountryishigher,loweroraboutthe

sameasitwasatthestartofthisyear?

Base:24,801onlineadultsunderage75across33countries,interviewedMarch22-April5,2024

52%26%

46%

20%

46%

14%

45%

25%

44%

30%

43%

37%

42%

31%

41%

25%

39%

25%

34%

31%

34%

26%

33%

22%

32%

50%

31%

38%

30%

33%

27%

31%

Country

32-countryaverage

SouthAfrica

SouthKorea

Türkiye

Singapore

Malaysia

Thailand

Indonesia

Colombia

UnitedStates

Canada

Hungary

Peru

NewZealand

Ireland

Chile

France

Israel

Argentina

Brazil

Australia

Mexico

Spain

Japan

Belgium

India

Netherlands

GreatBritain

China

Italy

Germany

Poland

Sweden

HigherAboutthesameLower

46%28%16%

51%27%11%

50%26%13%

49%30%15%

49%34%10%

47%29%18%

47%28%18%

46%30%16%

20%

37%

33%

16%

15%

32%

15%

12%

16%

22%

5%

13%

30%

24%

25%

16%

15%

30%

61%22%

7%

55%27%

54%25%

9%

18%

17%

5%

73%20%

5%

69%21%

7%

8%

65%23%

69%17%

46%

18%

26%

?IpsosCostofLivingMonitor

18

Howlongdoyouthinkitwilltakebeforeinflationreturnstonormalinyourcountry?

Base:24,801onlineadultsunderage75across33countries,interviewedMarch22-April5,2024

Country

32-countryaverage

Japan

France

Türkiye

Belgium

Netherlands

Canada

SouthAfrica

Australia

SouthKorea

UnitedStates

Italy

Hungary

Israel

NewZealand

Spain

Poland

Ireland

GreatBritain

Germany

Brazil

Sweden

Singapore

Chile

Malaysia

Thailand

Mexico

Colombia

Peru

Argentina

India

Indonesia

China

Withinthe

next6months

Withinthenextyear

Afterthenextyear

Already

thecase

Withinthe

Never

next3months

6%4%4%1%4%23%5%3%6%31%6%4%2%4%2%7%6%4%

10%

11%

21%44%29%29%34%27%24%29%18%19%21%29%33%20%11%18%22%19%11%25%24% 9%24%15%19%15%22%15%14%13%29%13%9%

19%

39%

39%

7%

11%

50%50%

15%16%

41%

46%

18%

5%16%

47%41%

49%47%44%

3%5%9%17%

21%11%20%

6%4%7%