Europeans reducing spending on essentials – Bloomberg ...News

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People are eating-in more and buying cheaper food, the news outlet reports Around 71% of European consumers have changed their shopping habits to keep food on the table amid the cost-of-living crisis, Bloomberg reported on Monday, citing a survey by US-based market research firm IRI. According to the report, “inflation fatigue” in the region has led to “coping behaviors” not seen since the 1970s and 1980s, such as skipping meals, cutting spending on food, buying out-of-date goods or items at reduced prices. Some 58% have been forced to cut down on essentials, and 35% have tapped personal savings or taken out loans

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