Czechs Continue to Fear Poverty and Save, According to Survey

A recent study conducted by a STEM agency found that the majority of Czechs, 58%, still fear poverty or an unreasonable reduction in their standard of living. While this is lower than the previous year, more than three-quarters of people, 78%, have to limit their consumption due to high energy and fuel prices.

The fear of poverty varies according to the income of individual households. While only 25% of secured households reported concerns, it was 57% among average families and even 90% among low-income households.

Last June, 65% of people expressed concerns about poverty or a significant reduction in their standard of living.

High energy prices are forcing Czechs to save – everyone is reducing their consumption regardless of their household status. It was stated by 44% of the secured households, 90% of the average ones, and even 95% of the poorly secured ones.

Regardless of income, the public agrees that the government is not doing enough to reverse the increase in poverty. This view was expressed by 81% of people.

In a poll conducted on, 80% of respondents expressed concern about poverty or an unsustainable reduction in their standard of living.

According to STEM, the real wages of employees are declining in year-on-year comparison.

“Nominal wages increased by 8.6% year on year in the first quarter of 2023, but real wages decreased by 6.7%,” the agency said, noting that pensioners were better off as the average old-age pension increased by 17.1% in 2022 and covered the increase in the price level.

The survey was conducted from May 18 to 29, and 1059 respondents participated.