Between 1989 and 2024, the average salary in the Czech Republic grew much faster than prices, so the purchasing power of the Czech economy increased several times.
The average wage rose from 1989 to the second quarter of 2024 1346 percent, more than fourteen times. With the exception of consumer bread, the number of pieces or liters that can be bought for an average salary grew for all the main things, from food to tobacco to gasoline. This follows from a study by XTB using data from the Czech Statistical Office.
“Although in 1989 the average wage was enough to buy around 79 kilograms of butter, in 2024 it is possible to buy 203 kilograms of butter for the average wage, which is an increase of 156 percent. Despite the increase in butter prices in recent weeks, it is still possible to buy much more for an average income than in 1989 before the Velvet Revolution,” said XTB analyst Pavel Peterka to ČTK.
According to the study, Czechs bought 460 percent more ham, 3.5 times more roast pork, more than four times more domestic rum and 183 percent more bottled beer for an average wage this year than in 1989. For wages on average, they can pay 226 percent more gasoline and 219 percent more diesel. They also buy more apples, by 205 percent. This is an increase of 417 percent for sugar, 80 percent for edamame, 254 percent for flour and 440 percent for eggs, despite their current price increase.
On the other hand, people buy 5.6 percent less consumer caraway bread for their average salary. But they buy 50 percent more white bread. “It is interesting that the big increase in the amount that can be bought for an average salary did not happen in potatoes and milk,” said Peterka.
Prices before 1989, according to Cyrrus analyst Vít Hradil, did not reflect the scarcity of goods and services, but were the result of official and erroneous decisions. Therefore, according to him, comparing special prices from the time before the end of the communist regime and today the value of information is limited. “Nevertheless, it is clear that the Czech population has in fact become significantly richer over the past 35 years, which applies to all income groups. in,” he said.
| Name | Sum | 1989 (in CZK) | September 2024 (in CZK) | Rising prices | Amount purchased for 1989 average wages | Amount purchased for 2024 average salary | Increase/decrease in quantity purchased for average salary |
|---|---|---|---|---|---|---|---|
| Caraway bread | 1 kg | 2.80 | 42.91 | 1433% | 1132 | 1069 | -6% |
| White wheat pastry | 1 kg | 6.67 | 64.94 | 874% | 475 | 706 | 49% |
| Coarse wheat flour | 1 kg | 3.80 | 15.52 | 308% | 834 | 2955 | 254% |
| Egg pasta | 1 kg | 10.40 | 64.24 | 518% | 305 | 714 | 134% |
| Potatoes for consumption | 1 kg | 1.60 | 17.04 | 965% | 1981 | 2691 | 36% |
| Boneless beef loin | 1 kg | 46.00 | 275.3 | 498% | 69 | 167 | 142% |
| Roast pork with bone | 1 kg | 46.00 | 147.65 | 221% | 69 | 311 | 351% |
| Whole cooked chicken | 1 kg | 30.00 | 69.28 | 131% | 106 | 662 | 526% |
| Pork ham | 1 kg | 100.00 | 256.89 | 157% | 32 | 178 | 463% |
| Fresh butter | 1 kg | 40.00 | 225.93 | 465% | 79 | 203 | 156% |
| broken pork lard | 1 kg | 16.80 | 93.71 | 458% | 189 | 489 | 159% |
| Pasteurized semi-skimmed milk | 1 l | 2.00 | 23.07 | 1054% | 1585 | 1988 | 25% |
| A brick wall | 1 kg | 23.00 | 185.58 | 707% | 138 | 247 | 79% |
| Fresh chicken eggs | 10 ks | 13.00 | 34.84 | 168% | 244 | 1316 | 440% |
| Crystal sugar | 1 kg | 7.30 | 20.42 | 180% | 434 | 2246 | 417% |
| Eating apples | 1 kg | 7.00 | 33.14 | 373% | 453 | 1384 | 206% |
| Bottled draft beer | 0.5 l | 2.50 | 12.74 | 410% | 1268 | 3599 | 184% |
| Dark in the home (domestic) | 1 l | 100.00 | 278.66 | 179% | 32 | 165 | 419% |
| Car gasoline 95 octane – natural) | 1 l | 8.00 | 35.5 | 344% | 396 | 1292 | 226% |
| Diesel fuel | 1 l | 7.50 | 34 | 353% | 423 | 1349 | 219% |
| Television fee | monthly | 25.00 | 135 | 440% | 127 | 340 | 168% |
| Cost of radio | monthly | 10.00 | 45 | 350% | 317 | 1019 | 221% |
| Average salary 1989 | 3170 CZK | ||||||
| Average salary 1Q 2024 | 45854 CZK | 1346% |
2024-11-16 09:15:00
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