As Christmas approaches, major commercial streets and city centers in various European countries are adorned with colorful decorations hanging high and dressed up in a new way. However, due to inflationary pressure and bleak economic development prospects, the Christmas shopping season in Europe this year has been chilly, and people generally hold a cautious attitude towards Christmas consumption.

Although energy prices have recently fallen and inflation rates in Europe have declined, food prices remain high. According to Eurostat data, the inflation rate in the Eurozone fell to 2.4% in November, but food and alcohol prices still remain high. The European Central Bank recently estimated that the inflation rate in the eurozone in 2023 will be 5.4%.

According to a survey report released by the Dutch news website NU.nl, the prices of Christmas related products in the Netherlands have significantly increased compared to the same period last year. The prices of Christmas wreaths and canned stew have increased by about 14%, and the average price of bottled red wine has increased by about 31%. A reader left a message saying that in the past, shopping at supermarkets could be done as one pleased, but now they have to activate the "survival mode", not only buying necessities, but also constantly searching for discounted products.

While the public is reducing expenses, there is also significant uncertainty in the economic development prospects of various European countries. The European Commission released its autumn economic outlook report for 2023 in November, lowering its economic growth expectations for the EU and Eurozone for the next two years. It predicts that the GDP growth rates for both the EU and Eurozone will be 0.6% in 2023, 1.3% in 2024, and 1.2% in the Eurozone.

Original： Xinhua News Agency reporter Chen Wenxian