Despite Prime Minister Petr Fiala’s announcement of the end of rising prices, many Czech households continue to face financial difficulties.
Experts warn that the most vulnerable groups, including the elderly and single parents, are still grappling with the inflationary effects of 2022 and 2023. A concerning sign is the increase in unpaid loans.
While prices are no longer rising steeply, real wages are growing only marginally, and service costs remain high. It is estimated that the number of households unable to pay for energy has doubled in the past year to over 1.5 million.
Overall inflation reached 15.1% in 2022, and although it is expected to decrease to 2.5% this year, real wages are projected to grow by only 3.8%. The number of people with unpaid loans has risen by nearly 50%, driven by increasing expenses and high inflation rates.
