“We will all be impoverished,” because the “deadly cocktail” of rising prices and “purple misery” cannot be avoided. We have to “tighten our belts” – except for thirty percent of us who have nothing to tighten and end up at the bottom. Central bank councilors, the union leader, the opposition chief, a critical journalist and the presidential candidate make notes in the dark predictions.
Research List of Reports from 14-21. April, in which 1420 Seznam.cz users registered on the Seznam Výzkumník platform took part, nevertheless shows something else. Although the impact of inflation has been felt by virtually everyone, the vast majority of participating households are not yet affected by dark visions.
Researcher List is a research panel of List Company. Users can register for it and take part in surveys on various topics, such as what Internet children are like in 2020 or what summer barbecues and burger habits look like. The participant is invited to the appropriate research by e-mail based on the socio-demographic information he / she provided about himself / her (gender, age, education, job status, region, size of the municipality). However, all results are anonymous and not associated with a specific person.
The increase did not affect only two percent of research participants. Most of them, a total of 85 percent of respondents, were significantly affected when buying food. More than two thirds were hurt by rising energy and fuel prices.
Nevertheless, 68 percent of respondents consider their financial situation to be good. Despite all the increases in the last year, the condition of family finances has improved in two thirds of them, or remained at last year’s level.
“Perhaps families see reality with a delay,” explains UniCredit’s chief economist Pavel Sobíšek. “Reports of rising energy supply advances have not yet affected them, but that may change when the real bill comes in,” he said.
According to the economist, the second reason for the prevailing calm may be the fact that higher expenditures are still being offset by higher revenues and reserves created in pandemic times. “Even in the fourth quarter of 2021, the savings rate was very high,” says Pavel Sobíšek.
This is confirmed by the survey. In recent years, incomes have risen, or at least not fallen, for four-fifths of families;
That is why most households are thinking about how to protect their property from inflation. It is most often possible to invest in real estate in the traditional Czech way. A total of 42 percent of Czechs are considering buying real estate, in addition, 28 percent are preparing for reconstruction.
The fact that a quarter of Czechs have already invested in property – and especially in real estate – has already invested in property – and especially in real estate – testifies to the fact that this is not just empty considerations. The results of the survey are confirmed by the findings of the Czech Banking Association, according to which interest in mortgages is not declining and every seventh inhabitant of the Czech Republic is considering negotiating it.
Nevertheless, data from the Researcher’s List confirm that thirty percent of respondents are not satisfied with their financial situation. This does not necessarily mean that they are in a critical situation, as only less than a fifth of families have lost their reserves.
The research participants thus indirectly confirmed the results of the current survey of the Solus association, according to which at the end of March every twentieth Czech had overdue debts, ie a smaller share than a year ago. At the beginning of the year, fewer people applied for the “anti-inflationary benefit”, ie the housing allowance, than in previous years. Specifically, there were 140,000 families, ie three percent of households.