Czechs Planning to Spend Less on Christmas Despite Rising Prices

Despite noticeable price increases over the past two years, Czechs are not planning to spend more this Christmas than last year—approximately a quarter of them, 23.2 percent, plan to spend a maximum of five thousand korunas. Almost half, 48.1 percent, will spend between five thousand and fifteen thousand korunas.

The survey conducted by Provident Financial reveals that more considerable expenses, between fifteen thousand and twenty-five thousand korunas, are planned for Christmas by 21 percent of households. This expenditure includes gifts and payments for sweets, food, or alcohol for the festive table.

“Even considering the constantly increasing cost of living, people are prepared to stay more grounded. A third of households are determined to spend less on gifts than last year. Half want to stay at the same amount,” said Provident Financial analyst Petr Javůrek.

According to the survey, 36 percent of households will spend less than five thousand on gifts, and another 32 percent plan to fit within ten thousand korunas. They mostly gift to their immediate family.

Gifts, food, and drink are an essential part of the holidays for most households. The survey showed that 16.3 percent of families plan to spend more on Christmas Eve dinner than last year. More than half of households are prepared to stick to last year’s budget when buying food.

Most people have set a limit of five thousand korunas for food. The most common way they want to save is by avoiding more luxurious foods or shopping for discounts.