Three out of four people in Austria are hit hard by inflation and are forced to limit their spending on leisure activities and entertainment. This is evident from a recent study by the Chamber of Labor (AK). People with a low household income, households with children under the age of 14, very large families and single people are particularly affected by the rising costs.
62 percent of the respondents say they eat out less often, while 57 percent go out less often in the evening. More than half (52 percent) visit cultural events such as cinema or theater less often. In addition, many Austrians look for cheaper alternatives and switch providers. About a third of the respondents refuel at other providers and a quarter have changed supermarkets.
Many rely on repair rather than buying new ones
The survey, conducted in February by the Gallup Institute among 1,000 Austrians, also shows that almost 40 percent of those surveyed have bought second-hand items or had them repaired instead of buying them new in recent months. More than a quarter spent their holidays at home and are increasingly using the bicycle or public transport.
“Especially people with low incomes and/or people with children have to limit themselves and thus adjust their shopping behavior,” says AK consumer lawyer Gabriele Zgubic. She calls measures such as the right to repair or the Austrian repair bonus positive.
AK pushes for rent control and energy cost ceilings
The AK calls for more measures against inflation, including a rent brake for all indexed rents, an energy cost ceiling for gas and district heating, the temporary abolition of VAT on basic foodstuffs and the establishment of an anti-inflation commission and a price transparency database
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
