Analysis
Why are we told we have never been better off?
According to the OECD, Czech living standards fell by 9.6% from 2021, bringing real incomes back to roughly their 2019 level. Developments also differed sharply across regions.
Key findings
According to the OECD, Czech living standards fell by 9.6% from 2021, bringing real incomes back to roughly their 2019 level. Developments also differed sharply across regions.
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Explanation
Why are we told that we have never been better off? According to the OECD, Czechia experienced the largest decline in living standards in the developed world: since 2021 the fall has been 9.6%, taking real incomes back to roughly their 2019 level. That is the national average. Real wages grew only in Prague and Brno, while the rest of the country experienced a very large decline. At the same time, income inequality increased significantly, so only a small part of the population experienced an improvement in living standards.