Economic Progress

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

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

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
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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
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Related topics:
Economic ProgressFinancial and Monetary SystemsUnited Kingdom
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