EY study: Polish consumer uncertainty stabilizes

The latest Polish fifth edition of EY's cyclical survey, the Future Consumer Index, shows that the mood of Polish consumers is stabilizing somewhat, but at a fairly low level. In May 2022, compared to October 2021, the percentage of people who negatively assess changes in their situation over the past months fell from 23 percent to 11 percent. However, it is to be expected that the following months will bring a deterioration in consumer sentiment. Already in May, 61 percent of respondents said that rising prices and services made them less able to afford them.

"Over the last few months, the feelings of Polish consumers can be compared to a sine wave. The lifting of pandemic restrictions observed since the middle of last year has had a positive impact on sentiment. However, the gradual improvement has been halted by the galloping rise in inflation. Now the first price shock has passed and the situation can be compared to stable uncertainty. This has a direct impact on consumer decisions. Poles have started to search. They are buying less and choosing substitutes more often. It is to be expected that this phenomenon will only intensify in the near future," Łukasz Wojciechowski, Partner, Audit Department, Leader of the Trade and Consumer Products Sector at EY, said.

(WBJ)