Protests, the cost of living and a widening wealth gap

Protests are erupting across Europe and Asia as people express frustration over soaring living costs, deteriorating public services, and widening wealth disparities. France has witnessed the most significant demonstrations, with over half a million people taking to the streets last weekend, accompanied by instances of looting and riots.

While there is no single unifying cause behind the international protests, a common thread is the rising cost of living, fueled by global inflation. According to UBS's Global Wealth Report 2026, a mere 58 million adults – comprising just 1.5% of the world's population – possess over $1 million each and control a staggering 48.4% of the world's wealth. In contrast, 1.62 billion adults, accounting for 42.1% of the global population, hold less than $10,000 each, constituting a mere 0.6% of the world's wealth.

The mounting pressure on household budgets is another contributing factor. The accompanying charts illustrate the rate at which consumer prices have surged since 2000. In France, a basket of goods that cost $100 in 2000 now costs $151 in 2025. In Serbia, the same basket has skyrocketed to $1,054. In Iran and Turkey, the price increases are even more pronounced, necessitating a logarithmic scale for comparison.

Interestingly, the chart tracking consumer prices since 2000 reveals that inflation has eased from its recent peaks in many countries. However, this merely signifies a slower rise in prices rather than a return to pre-inflation levels. The chart specifically highlights countries that have experienced protests since 2026 with a red color, indicating the potential correlation between economic hardships and social unrest.