%
growth in cost of living from 2021 to 2023
%
increase in consumer prices from 2021 to 2023
88% of Germans took actions to save money in the past 12 months.
Decreasing energy use, limiting non-essential spend, cooking at home and switching to private label products were the top ways these consumers cut back.
Source: Euromonitor International Voice of the Consumer Survey, fielded January to February 2023 (n=1,029)
18%
food price index growth from 2021 to 2023
20%
housing price index growth from 2021 to 2023
Food and housing prices record double-digit growth over the past two years.
Note: Food price index includes non-alcoholic beverages.
Essential Spending by Income Decile
Decile 10 spends more than 3x the amount of decile 1 on essentials but less than double decile 5. Housing is the highest expense for all three income levels, accounting for roughly 60% of essential spending for each.
Note: Spend per household in USD. Clothing expenditure includes footwear. Food expenditure includes non-alcoholic beverages.
DECILE 1
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
DECILE 5
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
DECILE 10
$
projected spend on clothing, food and housing per household in 2023
0%
of total expenditure
Essential Spending in the Biggest Cities
Clothing, food and housing will account for 37% to 39% of total household expenditure in the biggest German cities this year.
Note: Based on share of total household expenditure on essentials in 2023. Clothing expenditure includes footwear. Food expenditure includes non-alcoholic beverages.
Which city dwellers will be the most impacted?
