Poles cut their spending due to inflation - report
Nearly four out of five Poles feel the effects of price rises, and more than half have more problems with everyday expenses than before the pandemic, according to a study for the BIG InfoMonitor debt register, published on Friday.
According to data from the Central Statistical Office (GUS), inflation in July reached 3.1 percent, mainly due to increases in food and energy prices
BIG InfoMonitor pointed out that in the first half of 2020, the prices of consumer goods and services went up even more, by an average 3.9 percent, compared to the corresponding period of the previous year. However, when looking at individual consumer goods the figures are much higher. The prices of fruit rose by 22 percent, pork by 17.4 percent, cold cuts by 12.9 percent and sugar by 9 percent, the firm said.
Current housing expenses have also climbed mainly due to the increase in waste disposal costs and in electricity prices. More expensive services (6.6-percent rise on average) also contribute to inflation. The prices of financial services increased the most, by over 13 percent, hair and beauty salons' services (up by 9 pct) and a visit to the doctor's office costs about 8 percent more than in the first half of 2019, according to BIG InfoMonitor's data.
According to the survey conducted for the BIG InfoMonitor, almost nine out of ten respondents noticed a change in prices. The vast majority of respondents, eight out of ten, say that they spend more, and only one in ten claims they spend less.
Citing the study, BIG InfoMonitor added that it is more difficult for over half of the respondents to cope with everyday expenses due to the balance resulting from rising prices and the deterioration of the financial situation related to the economic freeze.
Half of the respondents said that they had to spend their savings or have problems with saving money.
The survey for BIG InfoMonitor was carried out on July 10-13 July on a representative group of 1,000 adult Poles.