Here's how different countries are tackling the cost of living crisis

Jan 9, 2023

The rising cost of living is biting businesses and households around the world. Here's how some leading economies are handling the situation. Image: Pexels/Monstera

Alan Shipman

Senior Lecturer in Economics, The Open University

Aymen Smondel

Maître de conférences en finance, IAE de Nice, IAE Nice, Université Côte d'Azur

Bhima Yudhistira Adhinegara

Direktur, Center of Economic and Law Studies

John W. Diamond

Director of the Center for Public Finance at the Baker Institute, Rice University

Luis Garvía Vega

Director del Máster Universitario en Gestión de Riesgos Financieros (MUGRF) en ICADE Business School, Universidad Pontificia Comillas

Mohamad Hassan Shahrour

Maître de Conférences en Finance, Université Côte d'Azur, IAE Nice , Université Côte d'Azur

Peter Martin

Visiting Fellow , Crawford School of Public Policy, Australian National University

Our Impact

The Big Picture

Explore and monitor how Economic Progress is affecting economies, industries and global issues

A hand holding a looking glass by a lake

Crowdsource Innovation

Get involved with our crowdsourced digital platform to deliver impact at scale

Stay up to date:

Economic Progress

A general view of the Bank of England building in London. cost of living crisis Davos 2023

UK governments have been stealthily raising taxes since 2010. Image: REUTERS/Maja Smiejkowska

Davos 2023;cost of living crisis; A house with a for sale sign placed in-front of the building.

Home sales in November were 7.7% lower than in October 2022. Image: Pexels/ Thirdman

Davos 2023; cost of living crisis; Australia and New Zealand are using restraint to ease inflation and tackle the cost of living crisis.

Australia and New Zealand are using restraint to ease inflation and tackle the cost of living crisis. Image: Pexels/ Lara Jameson

Davos 2023; cost of living crisis; A graph showing share of nuclear in total electricity production.

France’s use of domestic nuclear power sources. Image: The Conversation/Our World in Data.

Davos 2023; cost of living crisis; A graph showing share of fossil energy in total electricity production.

France is less reliant on fossil fuel products. Image: The Conversation/Our World in Data.

Davos 2023; cost of living crisis; A graph showing inflation in Spain from 2021 to 2022.

Spain’s Consumer Price Index Image: The Conversation.

Davos 2023; cost of living crisis; Spain lacks control and efficiency when it comes to public spending and subsequently controlling the cost of living crisis.

Spain lacks control and efficiency when it comes to public spending and subsequently controlling the cost of living crisis. Image: Pexels/Mikhail Nilov

Davos 2023; cost of living crisis; Inflation has increased the cost of living as it has not been accompanied by a sufficient wage increases.

Inflation has increased the cost of living as it has not been accompanied by a sufficient wage increases. Image: Pexels/ Tom Fisk

Discover

How is the World Economic Forum ensuring sustainable global markets?

Have you read?

Don't miss any update on this topic

Create a free account and access your personalized content collection with our latest publications and analyses.

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.