The Central Statistical Office announced that in October 2024, consumer goods and services prices increased year-on-year by 5 percent. According to the latest study by the National Debt Register titled “Wallets of Polish households under the pressure of rising prices”, 80 percent of us expect an increase in bills and living costs over the next 12 months. The largest expected price increase – by 70 percent – is related to heating bills.
The National Debt Register asked Poles whether they expect an increase in fees and, as a result, an increase in the number of bills they will not be able to pay on time. It turns out that almost 80 percent expect an increase in bill and fee costs. 44.8 percent of the respondents answered that there would be a slight increase, and a significant increase – 34.8 percent. A little over 5 percent of respondents disagreed. Every sixth respondent (15.4 percent) believes they will remain at the same level.
The study involved 1001 adult Poles aged 18 to 74 years who independently (65 percent) or with other household members (35 percent) pay domestic bills. This gives them a good insight into both their own finances and living costs, which they have to cover.
Seniors Expect Higher Prices
According to the survey, almost 90 percent of those who most expect increases are seniors (65-74 years). Generation Z representatives, among whom, 39.2 percent believe that bills will decrease or remain at the same level, are at the opposite end.
According to Central Statistical Office data, every third young Pole aged 25-34 years is a so-called nest dweller, i.e. still living with his parents, without his own children or partner. It is this group that does not fear rising living costs and even anticipates their decline. These results may suggest that they feel relatively secure living with their parents. More experienced people who remember the raging inflation of the 90s, economic changes, or a recent, sharp increase in prices, approach this topic more cautiously.” Explains Jakub Kostecki, President of Kaczmarski Inkasso debt collection company.
The conducted surveys show that Małopoly and Śląskie regions are most expecting an increase in the cost of living and bills over the next twelve months. At the other end are those who believe that the cost of living and bills will decrease. These are mainly inhabitants of the North Poland from Pomeranian, kujawsko-pomorskie and warmińsko-mazurskie voivodships.
Divided Fear
The survey also asked Poles: “Are you afraid of an expected increase in fees and bills that it will result in an increase in the number of bills and fees you will be unable to pay on time?”. The distribution of answers was almost equal with no significant differences, 34.5 percent believe it will not be a problem for them. Almost the same amount – 35.6 percent – cannot assess it, and 30 percent of respondents believe that raises will affect the timely regulation of specific obligations.
The greatest fears are often expressed by Poles aged 35 to 44 years – unlike those for whom increases will not affect regular payments – representative of the youngest generation from the cohorts 18-24 years, where fewer than one in five, (17.9 percent) see this issue. The senior generation thinks the same with 18.3 percent. Almost half of the generation 65-74 years (44.4 percent) answered that they will likely not and definitely not have problems with paying bills on time.
The youngest generation (18-24 years) and seniors have fewer concerns, which results from family support. In the case of retirees, the annual valorisation of pension and disability benefits may have a significant impact on positive assessments. Next year, pensions and disability benefits will increase by at least 6.78 percent. However, households in rural areas and those with low incomes are in a difficult financial situation, where as much as 37 percent of families with an income below 3,000 zlotys per month have trouble paying bills. For larger households of 5 or more people, this problem affects 22 percent of them, showing that maintenance costs heavily impact these groups. This mainly affects households that spend between 4001 and 5000 zlotys monthly on food. As much as 37 percent of them admit they are struggling with payments – comments Adam Łącki, President of the Management Board of the National Debt Register of the Business Information Office.
Most people indicating they might have problems with timely debt settlement after the increase live in rural areas (34.7 percent) and almost the same in cities up to 20,000 inhabitants (34.6 percent). Almost half (42.3 percent) medium-sized city dwellers (21-100 thousand inhabitants) and every third inhabitant of the largest cities – above 500 thousand – declare that the price increase will not affect their ability to pay bills.
Heating by 70 percent and water by 65 percent – We fear the increase of these bills the most.
In the study “Wallets of Polish households under pressure of rising prices,” a question was asked about what bills will be after the increase (in 12 months). According to the respondents, there will be a considerable price increase in heating fees over the next 12 months – they should increase on average by 70 percent. They also indicated water and sewage bills (increase by 65 percent), TV license fee and TV fees (by 58 percent), power and gas bills (by 56 percent), and in the case of prices of medicines, which are constantly being taken – by 50 percent. At the other end, were mortgages, where respondents expect an increase of 17 percent. We also predict an increase in rent by 26 percent and a gym/fitness club/swimming pool subscription by 30 percent.
The study “Wallets of Polish households under pressure of rising prices” was conducted in August 2024 commissioned by the National Debt Register of the Business Information Office by IMAS International, on a representative group of 1001 adult Poles aged 18-74 years, who personally or with other people pay bills. The interviews were conducted using the CAWI method.
Source: https://managerplus.pl/polacy-obawiaja-sie-wzrostu-kosztow-zycia-az-80-spodziewa-sie-wyzszych-rachunkow-73340
