K&H: Hungarians feel less secure due to high inflation

By: Trademagazin Date: 2023. 05. 05. 12:17

Among the 30-59 year olds, the proportion of those who consider their financial situation to be extremely secure has dropped significantly, from 31 percent to 24 percent in one year, according to the latest K&H Secure Future research. The largest part of the members of this age group, 37 percent, have no problems making a living, but they are no longer able to save. Overall, the survey shows that many people see their financial situation less favorably, and this can partly be explained by inflationary pressure, i.e. the price increase perceptible on a daily basis.

Significant differences can be seen regarding the income situation of the 30-59 year olds. According to the latest K&H survey – carried out every quarter since 2015, including the first three months of this year – the median income of the members of the affected age group was HUF 368,000, compared to HUF 330,000 in the previous research. The median value means that half of the respondents in this year’s and last year’s research had an income higher than HUF 368,000 and HUF 330,000, respectively, and the rest had a lower income. The annual growth was 11.5 percent, and this, taking into account the average annual inflation of 14.5 percent last year, means that the income situation of the age group has become less favorable in real terms.