Food Inflation Main Reason Behind Falling Living Standards - Aegon

Analysis

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The majority of Hungarians believe that their living standards have deteriorated over the past six months, according to a recent representative survey by insurance company Aegon.

Some 60% of respondents have seen their living standards deteriorate over the past six months, one in four feel they are living in unchanged circumstances and 15% said they are in a better financial position than before Hungarians are gloomy about the future, with 56% saying their living standards will continue to deteriorate, 26% confident of improvement, and below one in four saying nothing will change. 

The survey also asked which economic factors are causing the biggest deterioration in people's living standards. An overwhelming majority of respondents, 65%, said they saw food prices as the biggest problem. Rising energy prices were cited by few (gas: 6%, electricity: 4%) as the main cause of the deterioration in their living standards. The rise in fuel prices was cited by 9%, while the same proportion cited the deflation of savings.

A megtakarítások kapcsán kiderült, korábban minden második ember tudott félretenni, ma minden harmadik ember képes erre, a válaszadók kétharmada (66 százalék) pedig biztosan nem tud majd félretenni a közeli jövőben.

In terms of savings, only one in three respondents can save for the future, and two-thirds (66%) are sure they will not be able to save in the near future. 

"For the Hungarian population, a sense of security is of great significance, they know that saving is important. Crises have made this even more important. Even minimal savings can give people a significant sense of security in their daily lives. The economic developments of recent years have made it clear that a stable future can only be built through self-care and long-term savings. Avoiding unexpected risks has long been a priority for our clients. Aegon has decades of experience to offer the best solutions to those who want to secure their own and their family's future," said Péter Zatykó, CEO of Aegon Hungary.
 

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