Perceived Inflation as a Determinant of the Savings and Spending Structure of Consumers
Abstract In Europe and the U. S., official inflation rates reached a level of around 7 %–8 % in mid-2022. Based on survey data for Germany, we show that there is a rising gap between the objective (administrative) inflation rate and the (subjective) inflation rate as perceived by consumers, which is...
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| Format: | Article |
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Sciendo
2022-10-01
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| Series: | Wirtschaftsdienst |
| Online Access: | https://doi.org/10.1007/s10273-022-3292-3 |
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| author | Andreas Krämer Daniel F. Heuermann Thomas Burgartz |
| author_facet | Andreas Krämer Daniel F. Heuermann Thomas Burgartz |
| author_sort | Andreas Krämer |
| collection | DOAJ |
| description | Abstract In Europe and the U. S., official inflation rates reached a level of around 7 %–8 % in mid-2022. Based on survey data for Germany, we show that there is a rising gap between the objective (administrative) inflation rate and the (subjective) inflation rate as perceived by consumers, which is around 13 %. Low-income households are particularly affected by rising prices. Across all income groups, consumers react to rising prices by means of purchasing and consumption restraints, which runs counter to an assumed preference for the present as postulated by classical macroeconomics. |
| format | Article |
| id | doaj-art-855e9613dbc94254a07c9b7e50b1a69b |
| institution | Kabale University |
| issn | 1613-978X |
| language | deu |
| publishDate | 2022-10-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Wirtschaftsdienst |
| spelling | doaj-art-855e9613dbc94254a07c9b7e50b1a69b2025-02-03T03:03:21ZdeuSciendoWirtschaftsdienst1613-978X2022-10-011021078278810.1007/s10273-022-3292-3Perceived Inflation as a Determinant of the Savings and Spending Structure of ConsumersAndreas Krämer0Daniel F. Heuermann1Thomas Burgartz2exeo Strategic Consulting AGDepartment for Business, Sport and Event Management & Psychology, University of Europe for Applied Sciences (Campus Berlin)Fakultät Wirtschaft, University of Europe for Applied Sciences (Campus Iserlohn)Abstract In Europe and the U. S., official inflation rates reached a level of around 7 %–8 % in mid-2022. Based on survey data for Germany, we show that there is a rising gap between the objective (administrative) inflation rate and the (subjective) inflation rate as perceived by consumers, which is around 13 %. Low-income households are particularly affected by rising prices. Across all income groups, consumers react to rising prices by means of purchasing and consumption restraints, which runs counter to an assumed preference for the present as postulated by classical macroeconomics.https://doi.org/10.1007/s10273-022-3292-3 |
| spellingShingle | Andreas Krämer Daniel F. Heuermann Thomas Burgartz Perceived Inflation as a Determinant of the Savings and Spending Structure of Consumers Wirtschaftsdienst |
| title | Perceived Inflation as a Determinant of the Savings and Spending Structure of Consumers |
| title_full | Perceived Inflation as a Determinant of the Savings and Spending Structure of Consumers |
| title_fullStr | Perceived Inflation as a Determinant of the Savings and Spending Structure of Consumers |
| title_full_unstemmed | Perceived Inflation as a Determinant of the Savings and Spending Structure of Consumers |
| title_short | Perceived Inflation as a Determinant of the Savings and Spending Structure of Consumers |
| title_sort | perceived inflation as a determinant of the savings and spending structure of consumers |
| url | https://doi.org/10.1007/s10273-022-3292-3 |
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