2024 Global and Latin American Focus: Inflation and Security

In 2024, critical issues will confront the world, especially Latin America. Ipsos, a market research firm, conducted the “What Worries the World” survey.

This study shows that inflation is a major global concern for the 22nd month in a row.

Among participants from 29 nations, 36% point to soaring prices as their top worry. This concern outweighs fears about social inequality, poverty (29%), and crime (also 29%).

Other worries, like unemployment (27%), corruption (26%), and the coronavirus (7%), also appear.

The survey highlights that although anxiety over inflation has dropped by four percentage points from last year, it’s still 16% above the level in January 2022.

Argentina faces the highest inflation concerns, with 68% of its people worried. This is a record high for the nation.

In 2023, Argentina had the world’s highest annual inflation rate, at 211.4%. It surpassed Lebanon (192%) and Venezuela (190%).

Experts predict global inflation will ease from 5.7% in 2023 to 3.9% in 2024. Yet, this depends on factors like potential geopolitical conflicts.

These could push prices up further, according to the UN’s Department of Economic and Social Affairs.

Latin American Concerns

In Latin America, safety is paramount, with a focus on crime and violence. In 2024, four of the five most concerned countries will be in this region.

Chile leads at 65%, followed by Peru (62%), Mexico (55%), and Brazil (41%). Sweden is the sole European nation in the top five, showing a concern level of 53%.

Apart from inflation, Argentinians worry about poverty and inequality (40%). Brazilians share similar concerns (38%).

In Chile and Mexico, crime is the main fear (65% and 55%). Peru faces significant worries about corruption (53%), well above the global average. In Colombia, unemployment is the biggest issue (41%).

When it comes to optimism about their country’s direction, 66% of Argentinians feel positive. Mexico (56%), and Brazil (53%).

However, only 37% in Chile, 35% in Colombia, and 15% in Peru share this optimism. Economic outlooks are largely negative across these countries.

The Ipsos survey ran from December 22, 2023, to January 5, 2024.

Its accuracy is calculated with a margin of error of +/- 3.5 percentage points for 1,000 responses and +/- 5.0 points for 500 responses.

Total discrepancies and minor differences can result from rounding and multiple responses.