Inflation: What role does the “perceived” inflation rate play?

Almost three times higher than the current inflation rate in Germany: “Perceived inflation” stood at 18% in May, according to a study by Allianz Trade. This means that inflation is perceived by consumers to be significantly higher than it actually is. According to an economist at Allianz Trade, this discrepancy is causing problems for the economy: The perceived inflation rate has a strong influence on consumers' purchasing behavior and consumption decisions and therefore has an impact on companies and interest rate policy.

Allianz Trade has also analyzed the reasons for the sharp discrepancy between perceived and actual inflation. This is particularly attributable to consumers' purchasing behavior and the composition of their purchases. Frequent purchases of food, fuel, or other supermarket items tend to be more noticeable—areas where the inflation rate was recently almost 15%. Psychological aspects also play a role: consumers tend to focus on sharp price increases, while stable and fluctuating prices are less noticeable. Demographic and regional differences also play a role.

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