Majority of Czechs Still Fear Poverty and Face Energy Consumption Constraints, Study Shows

Date – A recent study conducted by a STEM agency has revealed that a majority of Czechs, 58%, continue to harbor fears of poverty or facing an unreasonable reduction in their standard of living. Although this figure represents a decline from the previous year, a significant portion of the population, 78%, is compelled to limit their consumption due to soaring energy and fuel prices.

The study highlights the correlation between income and concerns about poverty. While only 25% of households with financial security reported apprehensions, the percentage rose to 57% among average-income families and surged to 90% among low-income households.

The fear of poverty has been an ongoing concern, as evidenced by last June’s results, which indicated that 65% of people were worried about facing impoverished conditions or a significant reduction in their living standards.

Escalating energy prices are compelling Czech citizens across the board to economize, transcending household status. Of those surveyed, 44% of secured households, 90% of average-income households, and a staggering 95% of financially vulnerable households expressed the need to reduce consumption.

Despite income disparities, there is a common sentiment among the public that the government is not doing enough to address the rising poverty rates. Approximately 81% of respondents shared this viewpoint.

A separate poll conducted on Novinky.cz reflected similar concerns, with 80% of respondents expressing worry about poverty or an unsustainable decline in their standard of living.

According to STEM’s analysis, employees are experiencing a decline in real wages in year-on-year comparison. Although nominal wages saw an 8.6% increase in the first quarter of 2023, real wages witnessed a concerning 6.7% decrease during the same period. It is worth noting that pensioners fared better in this regard, with the average old-age pension experiencing a 17.1% increase in 2022, effectively compensating for the rise in the price level.

The study was conducted from May 18 to 29, with 1059 respondents participating. The findings underscore the pressing need for comprehensive measures and government action to address the fear of poverty and rising living costs, ensuring the well-being and stability of the Czech population.

Article by Prague Forum

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