Nearly 50% of Europeans are worried about being able to pay their bills in the next six months, while in Croatia this concern is somewhat less widespread, according to a European Commission survey.

Forty-eight per cent of respondents expressed concern about their ability to pay mortgages and transport to work, and 37% reported that they dipped into their savings to make ends meet, according to a survey conducted by Ipsos.

Inflation in the EU has strengthened after the pandemic due to a sudden recovery of demand that was not not matched by supply. Prices continued to increase last year, spurred by a jump in production, food and energy costs due to the Russian invasion of Ukraine and Western sanctions against Moscow.

In order to curb inflation, the European Central Bank changed the direction of the monetary policy and raised interest rates, so one in ten respondents saw an increase in their mortgages due to variable interests rates.

In response to energy price hikes, 71% of respondents are trying to save energy at home and 28% have changed their use of transport.

Ipsos conducted the survey for the Commission last October and November, interviewing 1,000  people per country in the EU27, Iceland and Norway.

Croatia below EU average

In Croatia 16% of respondents said they were forced to tap into their savings to deal with higher living costs, which is the lowest percentage among the countries covered by the survey.

Only 3% of respondents in Croatia said their mortgage payments increased in the past six months due to variable interest rates, while 16% were worried about being able to repay their mortgage.

At the European level, 10% of citizens have higher mortgage payments and 19% are worried about being able to pay them.

Seven per cent of respondents at the European level have applied for a new loan or credit card, including 7% in Croatia.

Thirty-seven per cent of respondents in Croatia were worried about being able to pay their bills in the next six months and as many were not sure whether they would be able to afford the food they liked.

Forty percent were worried that they would not be able to afford a summer vacation and 20% were concerned about their ability to repay loan and credit card debts as well as to pay for transport to work.