How do rising costs impact the Danes and Swedes?

The cost-of-living crisis significantly affected the Danish and Swedish economies and consumer confidence in September.

YouGov’s cost-of-living tracker examines how European experience inflation and how they deal with it every month.

Most Danes and Swedes do not struggle to make ends meet financially (76% and 71%), and 43% of Danes and 34% of Swedes describe their financial situation as relatively or very comfortable. However, the majority (59% in Denmark and 55% in Sweden) have had to cut their usual spending due to the cost-living-crisis.

62% of Danes expect to make cuts going forward, and 41% already cut their usual spending, but they also expect to make further cuts. In Sweden, even more (68%) expect to make cuts soon, while 39% have already cut their usual spending and expect to make further cuts. Only 15% in Denmark and Sweden have been able to maintain their usual spending so far and expect to be able to continue to do so, despite the cost-living crisis.

46% of women in Denmark have made cuts to their usual spending and expect to make further cuts, which applies to a significantly lower proportion of men (36%).

Women are also overrepresented in Sweden among those who have made cuts and expect further cuts. 48% versus 31% of males. The 45-59 years old are also overrepresented (46%) and those living in Northern mid-Sweden (48%).

Energy bills make most Danes and Swedes struggle

When asked to reflect on the last three months, most Swedes and Danes have not struggled to afford any of their usual spendings. However, energy bills (e.g., home heating, electricity, etc.) have caused the most problems.

17% and 15% in Denmark and Sweden have always or most of the time struggled to afford their energy bills.

Methodology

Data is drawn from YouGov’s cost-of-living tracker, which describes the impact of price increases on the European consumer’s financial situation.

YouGov surveyed 1035 Danes and 1008 Swedes using standardized online interviews. The surveys were conducted between September 8-12, 2022. The results are representative of the population in Europe aged 18 and over.