High perceived inflation despite statistical decline

High perceived inflation despite statistical decline

The rise in prices in Saxony-Anhalt reached its peak in March and, according to the State Statistical Office, inflation was only 2.2 percent. This already corresponds to the European Central Bank's inflation target of two percent. Despite these official figures, many consumers feel overwhelmed by the actual price increases. The Mitteldeutsche Zeitung's reader mail is currently filled with examples of sharp price increases. Citizens' perception of inflation is in stark contrast to the statistical data.

Economic researcher Doreén Pick from Merseburg University emphasizes that consumers' “perceived inflation” is often significantly higher than that officially measured. She explains that individual factors can cause personal inflation to vary and in some cases even be higher than average. It is important to recognize that consumers are not necessarily deluded, but rather are experiencing a different reality that is not always reflected by statistics alone.

The discrepancy between official inflation data and perceived reality highlights the complexity of price developments and illustrates why it is important to take consumers' individual experiences and concerns seriously. Despite the calming of price increases in Saxony-Anhalt, “perceived inflation” remains an important issue that influences the reality of life for many people and makes it clear that the economic challenges cannot always be reflected by statistical figures alone.