‘People buy spectacularly less’: inflation-hit Europe weighs costs ahead of elections
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Governments have tried to ease the pain from record-high inflation that has swept Europe. But they failed to tame a major inflation driver in corporate ‘greedflation’. Now European elections approach with the cost-of-living crisis high on agendas.
By Pascal Hansens and Attila Kálmán
On paper, Europe’s inflation crisis is easing. Rates have dropped from double digit highs of 2022, and the OECD said in May that inflation was ‘falling faster than initially projected and private sector confidence is improving’. Yet for the European public, inflation’s impact remains very real. ‘I used to buy feta for €7–8 per kilo, now it’s €14. Of course I don’t buy it at that price, I hunt for special offers and go to several supermarkets every week,’ says Maria, 63, who works as a cleaner in Athens. She says many Greeks have changed shopping habits because of high inflation and now must shop around the city searching for bargains.
On the other side of Europe, Frédéric, who lives near Paris, is also h...
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