Google Searches for “Inflation” Overtakes “Coronavirus”

Since the global outbreak a few years ago, coronavirus has been a primal concern for people around the world. However, with the cost of living crisis and impending recession, people’s concerns are beginning to change.

MoneyTransfers.com looked into Google search data on “coronavirus” and “inflation” and compared it to last year, and this is what they found:​

Key Findings:

• Between July and October 2022, Google searches for inflation rose by 1000% compared to last year.
• Google searches for inflation overtook coronavirus this month after the release of the Consumer Price Index report.
• Inflation topped individuals’ biggest worries in 12 countries, with ​40% of people viewing inflation as their number one concern.
• The highest concern figures were reported in Poland (67%), Argentina (65%), and Turkey (56%).
• In comparison, coronavirus was ranked 10th in the list of concerns, with only 12% of people in 29 countries viewing it as a top concern.

Jonathan Merry, CEO of MoneyTransfers.com commented:

“The rising worry is to be expected, especially after a damaging few years post-COVID-19. Inflation is a damaging phenomenon, and it’s right that people are concerned about it. Given how impactful the pandemic was, and with an unavoidable recession on the horizon, it’s understandable that society’s current outlook isn’t overwhelmingly positive or optimistic. But it’s also a time for people to come together, as many did so valiantly throughout Coronavirus.”

According to FlexJobs’ Career Pulse 2022 Survey, 80% of respondents said inflation is currently impacting their career decisions, such as whether to look for a new job with a higher salary or try to negotiate a higher salary with their current employer.

Inflation has already been shown to be changing consumer behavior.

Research from Forbes Advisor has discovered that more than half have cut back on non-essential items when shopping for groceries (51%), and almost half (45%) of Americans have changed their grocery shopping to buy cheaper alternatives.

Furthermore, consumers are forced to minimize how many groceries they purchase. Overall, two in five Americans are buying fewer groceries as a result of inflating food prices (39%), and one-third have reduced their weekly grocery budget (31%). Moreover, just one in six (17%) Americans do not claim to have adjusted their spending when shopping for groceries.

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