Survey: 8 out of 10 Romanians worried about the price hike on food, utilities, fuel

• 8 out of 10 Romanians are worried about the increase in prices for food, utilities, fuel;
• For 64% of the population the rising cost of living is another concern;   
• 1 in 4 people worry about the level of individual / family income.

According to data provided by MKOR Consulting through the Consumer Sentiment 2022 study conducted in November, concerns about the economic context in 2022 have led more than half (57%) of consumers in the country to save money in the past 6 months. In this context, consumers have redefined their shopping and leisure spending priorities. More than half switched to more affordable brands and reduced the amount of products they purchased.

There are also changes regarding consumption behavior in general, Romanians choosing to reduce their consumption of energy, gas or fuel in the last 6 months, as well as to reduce going out in the city (68%) and to postpone or even cancel their vacation plans (5 out of 10 respondents). Regarding the evolution of the aspects that worry them, the general sentiment of Romanians for the beginning of 2023 is a pessimistic one, with 73% of the population expecting to pay more for food, utilities and fuel.

The same applies to the cost of living in Romania. 7 out of 10 respondents say they expect to spend more money out of pocket for healthcare, rent, education, installments, etc. in the next 6 months. The situation of the economy is not put in a positive light either, more than 6 out of 10 people interviewed believe that it will worsen in the first months of the new year. Also, nearly half (45%) of survey respondents expect to have difficulty finding the goods and services they are interested in on the shelf in the next 6 months.

“We have all witnessed major changes in the year 2022, both at the organizational level and in our daily lives. Entrepreneurs and decision-makers from companies with whom I interacted during the year expressed their concerns regarding the economic uncertainty, all of them wondering what the impact will be on consumer behavior in Romania. So we decided to address these concerns the way we know best: through data straight from the source, the consumers. We found out what is the general feeling of Romanians in the current economic context, but also how they expect things to evolve in the first months of 2023“, says Corina Cimpoca, founder of MKOR Consulting.