March 17th, 2023, Samuel Tan
Last month, we explored whether consumers in APAC expect their household finances to get better or worse over the next 12 months – across Australia, Hong Kong, Indonesia, Singapore and Thailand.
But with inflation rates globally remaining high, do APAC’s consumers feel that prices for health supplements and pharmaceutical products have risen sharply over the past few months?
To what extent do consumers in APAC think that health and pharmaceutical items have recently grown costlier?
Latest data from YouGov Surveys show that most consumers in APAC feel that the prices of health/pharmaceutical items have increased in the past few months.
Almost three in five (58%) say health/pharmaceutical products have gotten more expensive in the past few months, with over a fifth (22%) reporting major increases. This is a relatively smaller proportion compared to AMERS, where 62% have noticed price hikes, but a slightly larger proportion compared to EMEA, where 54% say the same.
What proportion of consumers in key APAC markets think health / pharmaceutical product prices have risen significantly?
Consumers in Singapore and Australia are slightly more likely than the average APAC consumer to say health/pharmaceutical product prices have gone up in the past few months, while consumers in Indonesia and Hong Kong are less likely to.
Over three-fifths of consumers in Singapore and Australia (both 64%) say they notice pharmaceuticals getting costlier in the past few months, compared to 58% of APAC consumers. But similar to the regional average, over a fifth (22-23%) feel there have been major price increases.
On the other hand, around half of consumers in Indonesia (54%) and Hong Kong (49%) think that pharmaceutical items have become more expensive, while less than a fifth (18-13%) feel there has been a major price hike.
This is part 2 of our 4-part series on the impact of inflation on essential goods and services in APAC. Read the companion articles in the series via the links below.
Part 1: How intensely are APAC’s consumers feeling the impact of inflation on grocery prices?
Part 3: How intensely are APAC’s consumers feeling the impact of inflation on energy bills?
Part 4: How intensely are APAC’s consumers feeling the impact of inflation on housing costs?
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Methodology: YouGov Surveys: Serviced provides quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18+ years in 18 markets with sample sizes varying between 510 and 2,044 for each market. All surveys were conducted online during January 2023. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov Surveys: Serviced.