Czechs shop at discounted prices, and a quarter of households can only afford basic food.

About 28% of Czech households can only afford basic food. This is according to research by KRUK, which focuses on managing receivables from financial institutions and corporate clients. Over half of families are looking for discounted food only. Most often the Czech spends from 5,000 to 10,000 crowns per month on food.

Research shows that the unemployed, the elderly, parents on parental leave, and workers in agriculture, forestry, trade or services buy the most food at discounted prices. Events are more often sought after by women than by men. Due to rising prices, almost a fifth of Czech households started buying lower quality food and about 15% decided to change their menus to save money.

KRUK CEO Jaroslava Palendarova said: “It is essential support for food procurement, such as through food banks, but only the bare minimum of Czech households need it so far.

About 37% of families spend between 5,000 and 10,000 crowns a month on food, and nearly a third spend between 3,000 and 5,000 crowns. About 82% of households can live on 10,000. 18% of her respondents have her 10,000 or more reserved for edible use.

Research shows that in most cases these are people working in the military, security forces, IT, telecommunications or healthcare. Men, college students, people aged 45 to her 54 tend to pay extra for meals. Residents of Prague are the most expensive. Kruk found that in small towns, the elderly were improving their lives by raising animals and growing vegetables and fruits themselves.

“Regardless of age, monthly income or social status, Czechs are very price sensitive and like to look for discount events.In addition, in the regions bordering Poland, many people travel abroad to buy cheap food. It is several times higher than the average for the entire republic,” said Palendarova. According to the report, about a tenth of households buy their groceries outside the Czech borders.

The survey took place in October this year and was prepared by STEM/MARK. Inflation in the Czech Republic was 15.1% in October, but in November it accelerated to 16.2%, according to data from the Czech Statistics Office.

Food prices rose about 27.1% year-on-year last month, he said. In particular, wheat flour increased by 48%, semi-skimmed milk by 53%, eggs by 72%, fats by 41%, potatoes by 42%, and sugar by 109%. Overall, his November inflation rate in the Czech Republic was the highest in Europe. For example, it was higher in Turkey, Moldova, Ukraine, the Baltics and Hungary, according to Portu’s analysis.

Video: People are scared. We don’t need to scare them anymore to keep them saving, Marek says (24/11/2022)

Households and businesses need to be reassured, not feared, so they can save even more.Economists say their caution is probably exaggerated. | | Video: Daniela Pissarovicova


Leave a Comment

Your email address will not be published.