Czechs no longer have access to overpriced goods, they prefer to go elsewhere. Domestic stores can thus lose up to 60 billion crowns Business

According to economists, the decline is not only due to a decrease in the purchasing power of households, which have to save due to a decrease in real wages. Customers are also already seeing that merchants add excessive profit margins to prices, and are refusing to buy such overpriced goods.

“Consumers are cautious even among those who do not immediately have a problem with their purchasing power. A role can also be played by citizens’ disgust with the feeling that prices are indefensible high,” Vít Hradil, chief economist of the Cyrrus financial company, told the Lidovky.cz server. “It’s one of the possible explanations,” adds Creditas Bank chief economist Petr Dufek.