“The years of 1989 and 2019 are different in one phenomenon, which is a Christmas debt,” CETA analyst Michal Hejl said. (source: TASR)
While Slovaks spent more than four times an average wage on Christmas shopping in 1989, they will pay for slightly over half the average wage this year for the same products on their Christmas shopping list.
Where and when to do grocery shopping around Christmas?
The analysis by CFD World and CETA in Prague also found that the nominal wage is 10 times higher than 30 years ago, as reported by the SITA newswire. Not only wages but also prices, except for electronics prices, rose significantly since 1989.
“If we compare the Czech Republic and Slovakia, Czechs continue to be slightly more prosperous, but the gap between the two countries is diminishing,” CFD World analyst Martin Krištoff said, as quoted by SITA.
