Roughly eight thousand crowns, the Czechs could give such an amount this year for an average of Christmas presents, another six thousand crowns will be spent on food, decorations or trees. “In total, about 122 billion crowns will be spent on Christmas, “Predicts economist Štěpán Křeček.
“The Czechs are waiting for the most expensive Christmas in history. If they want to avoid further price increases, they should shop under the tree now. “ warns economist Lukáš Kovanda.
According to him, the fact that Chinese ports are collapsing due to the delta mutation of covid-19 will signify a significant increase in the price of purchases. “Outages in Chinese ports are significantly contributing to the increase in the cost of transporting everything from toys, clothing and footwear to electronics. This increase will be reflected in the pre-Christmas rise in prices in both brick-and-mortar and online stores.” warns Kovanda that the Czech National Bank also warns against inflation, which could attack the level of four percent in the Czech Republic at the end of the year, it cannot even be ruled out that it will be even higher.
“With inflation at 4% or higher, the Czechs will lose their savings at one of the fastest rates in this millennium. This will make many Czechs prefer to spend their savings. And Christmas is an ideal opportunity to do so.” dodal expert.
According to economists, the possibility of spending will be all the more advantageous because last Christmas was slightly poorer than usual in many households due to the epidemic situation and retail closures. “People have saved savings, so they will have money for Christmas. Unfortunately, the transport of some products to the Czech Republic is stuck, so those that are of great interest may not be in stock. They may happen.” points out Hamster.
This applies in particular to electronics and devices that use chips (such as tablets or cars), but also to household products.
Given the situation in international transport, traders can be expected to feel an opportunity to increase margins so that they can also recover from pandemic closures. “The trend is that a lot of people no longer give gifts and only give away money, so even these pressures can lead to higher prices.” says economist Dominik Stroukal.
How did familiar faces enjoy last Christmas? Take a look at the report:
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