Poll-Respondents More Concerned Re: Rising Food Prices Than Energy Costs

Latest polling from US outfit Morning Consult shows respondents from two major and two sizeable European economies - the UK, Germany, Poland and Sweden - more concerned about the rising price of food than they are about rising gas prices pushing energy bills up, despite the more acute increase in the latter in recent months.

• Shares of respondents who said they are “somewhat” or “very” concerned about rising prices in each category in light of Russia’s invasion of Ukraine: Germany-Food: 95%, Gas: 89%; UK-Food: 90%, Gas: 88%; Poland-Food: 93%, Gas: 90%; Sweden-Food: 85%, Gas: 68%
• Morning Consult outlines the potential pitfalls of gov't policy responses to this high level of concern: " the temptation faced by European officials to cave to Russian demands for sanctions relief in return for a “humanitarian food corridor” will grow in tandem with political pressure on governments to contain prices [...] While it might seem like an immediate positive for businesses insofar as it would prevent some harmful short-term policy fixes, granting sanctions relief would allow Russia to fund its war effort, lengthening the conflict. That long-term cost would far outweigh any short-term gain."