Poles tighten belts as prices rise, shows survey
Poles have been stripping their household budgets, mainly of non-essential expenses, due to inflation-driven price hikes, a study has revealed.
According to a survey conducted by the Inquiry agency, which has been following Poles' attitudes towards the economic situation, particularly the rising food prices since March this year, 55 percent of respondents look for promotional offers and choose less expensive food products (52 percent) or simply shop at cheaper grocery stores (42 percent).
The way to deal with the growing cost of the shopping basket is also to give up on "small pleasures" or "save on everything", as indicated by almost one third of the respondents, show the results of the study published on Thursday.
"People primarily give up entertainment, eating out or services such as going to the hairdresser, beautician or laundry," the authors of the report said.
The study also revealed that Poles save the least on education, transport, household chemicals and medicines.
The survey also shows that Poles are not optimistic about the situation in the coming months. Over 80 percent believe that prices for both products and services will continue to rise.
"Half of the respondents feel that their household income has shrunk compared to last year, and in the coming months, they expect a further decline. As a result, over a quarter of Poles feel concerned about the possibility of repayment of their loans (more than half of all borrowers)," the authors of the study wrote.