Rising Costs of Living and Financial Uncertainty Shape the Concerns of Poles

FINANCERising Costs of Living and Financial Uncertainty Shape the Concerns of Poles
December is, for many of us, a month of intense holiday preparations and reflection on the passing year. What kind of mood did Poles enter it with after the autumn period, when financial uncertainty, rising costs of living, and dynamic changes in the country and the world continued to dominate conversations? The research and analytics company Zymetria has published the latest edition of its recurring report, “Autumn Moods of Polish Men and Women,” which thoroughly analyzes the concerns and attitudes of society influenced by various economic, climatic, and social factors.

Rising Costs of Living as the Biggest Concern for Poles

The “Autumn Moods of Polish Men and Women” report indicates that, for two years now, the greatest concern for society remains the rising cost of living (48%)[1]. Notably, although this type of challenge is still the biggest worry, the anxiety is not as strong as it was in 2022 and 2023. Concerns about living costs are undoubtedly correlated with perceptions of household financial situations. While the percentage of respondents reporting an improvement or deterioration in recent months is similar at 28%, the group evaluating their finances negatively is growing significantly faster. This is a worrying trend. Our report also shows that half of Poles are currently satisfied with their finances, though this group is shrinking. — Agnieszka Kosicka, Partner, Head of Quantitative Research at Zymetria. Young people show the most optimism about financial forecasts, a trend that has been consistent across Zymetria’s reports. 56% of respondents aged 18-25 believe their financial situation will improve in the next 12 months, while this percentage drops to just 25% across all age groups[2]. Among Generation X respondents (aged 42-57), fewer than one in five expect positive changes (17%). For older individuals (58+), the percentage of optimists is even lower (12%)[3].

Rising Prices Are Increasingly Noticeable and Impactful

Prices in Poland are rising, and Poles are increasingly aware of this. Since May of this year, the number of people noticing price increases in everyday life has risen by 11 percentage points[4]. Today, 91% of respondents report noticing these increases. Price hikes are particularly evident in food (74%), housing expenses (61%), medications (46%), fuel (45%), and household goods like cosmetics and cleaning supplies (43%)[5]. The most painful expenses are those that are unavoidable. In all other cases, people are actively looking for ways to save. First, they cut back on discretionary spending — sweets, beverages, entertainment, cultural events, vices, transport, and non-essential services. Poles are cautious about managing their budgets: 48% spend less daily, 37% refrain from larger planned purchases, and 19% stock up on essential goods. — Agnieszka Kosicka, Partner, Head of Quantitative Research at Zymetria. Challenges in this area have led to increased financial awareness. Since the first edition of the study in 2022, the percentage of people prioritizing financial security by saving money has grown. This figure now stands at 40%.

Balancing Pessimism, Optimism, and Neutrality

Currently, the distribution of pessimists, optimists, and those with a neutral outlook is nearly equal (33%, 34%, and 34% respectively)[6]. In the spring of this year, there were fewer skeptics and more people optimistic about the future, primarily due to hopes related to new government initiatives. However, many people now feel that little has changed. Post-election optimism has waned — fewer people believe in improvements to key aspects of government functioning or significant positive changes. Opinions on government actions vary, reflecting voters’ preferences. This is evident, for example, in opinions about eliminating homework in schools. The Zymetria report shows that Poles currently face mixed feelings about the future. On one hand, growing economic awareness and concern for financial security provide grounds for moderate optimism. On the other hand, challenges related to the cost of living and low confidence in systemic changes suggest that uncertainty remains a key factor affecting public sentiment.
    1. Autumn Moods of Polish Men and Women, Zymetria, November 2024
    1. Ibid.
    1. Ibid.
    1. Ibid.
    1. Ibid.
    1. Ibid.
Source: https://managerplus.pl/jesienne-nastroje-polakow-wzrost-kosztow-zycia-i-niepewnosc-finansowa-ksztaltuja-spoleczne-obawy-65841
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