Savings rate still above the pre-pandemic period | Delayed

The household saving rate in the euro area was at 15.4% in the 1Q25 (0.2 percentage points higher than in the fourth quarter of 2024), which is explained by the consumption increasing at a slower rate than gross disposable income (respectively +0.6% and +0.8%). The saving rate thus remains at a relatively high level. As for the CEE region, only Czechia, Hungary and Poland have data available within these statistics. In Czechia, the saving rate is permanently above the Eurozone by roughly 3 percentage points since the pandemic (most recent statistics was at 18% in 4Q24). In Hungary, we see the same situation i.e. saving rate above the Eurozone yet slightly lower compared to Czechia (17.3% in 4Q24). In Poland developments are quite different, however. The saving rate reached 10.6% in 4Q25 but it has been constantly increasing since 2022 and the inflation shock when saving rate in Poland reached the bottom of 1% on average in 2022. The overall tendency to save slows down growth of private consumption and impacts the pace of overall economic development.