Inflation depresses mood: 30- to 59-year-olds are not worried as they have been for years

The majority of Germans between the ages of 30 and 59 are pessimistic about the future.

Inflation depresses mood: 30- to 59-year-olds are not worried as they have been for years

The majority of Germans between the ages of 30 and 59 are pessimistic about the future. The mood captured by an Allensbach study is worse than it has been in nine years. Expensive groceries and high heating costs are depressing. It is also clear to many who is required now.

High inflation and energy shortages are depressing the mood of the middle generation in Germany. Overall, 51 percent of 30 to 59-year-olds are very concerned about the future: This was the result of a survey published in Berlin by the Allensbach Institute for Public Opinion on behalf of the German Insurance Association (GDV). For the first time since the start of the annual survey in 2013, there were more pessimists than optimists among the middle generation.

According to the information, the values ​​show an “unprecedented slump in mood” among middle-aged respondents. "People were worried last year too, and especially in the first year of the pandemic, 2020, but they weren't nearly as pessimistic as they are now," said Allensbach Managing Director Renate Köcher. According to the survey, the middle generation assesses their economic situation much more pessimistically than in previous surveys. 38 percent of those surveyed stated that they are worse off today than they were five years ago. Only 33 percent think they are doing better.

As the survey also revealed, the uncertainty is having a clear impact on the consumer behavior of 30 to 59 year olds. Almost half stated that they had to limit their consumption considerably. The respondents suffered particularly from the more expensive groceries (82 percent) and increased heating costs (74 percent). The perceived lack of personal scope for savings also contributes to the uncertainty. Only seven percent see considerable potential for savings. In contrast, 69 percent see only little and 22 percent no possibilities at all to reduce their spending in the current crisis.

According to Köcher, a large majority of 83 percent of those surveyed see the state as having a duty to mitigate the effects of inflation and energy shortages. At the same time, many respondents are skeptical as to whether the measures that have been taken are suitable for overcoming the crisis. Only 14 percent have great or very great confidence that the measures will take effect. On the other hand, three quarters of the respondents have little or no trust in the government's crisis management.

According to the GDV, more than 35 million people in Germany belong to the middle generation. Accordingly, the focus of the survey is due to its key role within society. The 30 to 59 year olds generated more than 80 percent of the taxable income. The representative annual survey on the mood of the middle generation has been commissioned by the GDV since 2013. 1055 men and women took part in the current survey between September and October.

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