Czech families spend most on housing

Prague, Oct 22 (CTK) - The average Czech family now spends most on services including housing and related costs, which swallows a third of its monthly expenses, while in 1989 it spent around 18 percent of its monthly budget on services, according to data published by the Czech Statistical Office (CSU). In the early 1990s families spent a major part of their monthly budget on industrial goods. Analysts attribute the changes in spending to the transition from a centrally-planned economy to a market economy and to mushroom growth of global economy. Twenty years ago families spent almost 40 percent of their income on industrial goods a month on average. Average net wage reached around Kc2,500 in 1989, now it is some Kc18,000. A Skoda car sold for Kc84,600 in 1989, almost 34 monthly salaries. Last year's price of the Skoda car was... [read full story]                    

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