The elections have come and gone…
The April forecasts indicated that the consumers’ views on the status of the economy were not improving, and this has unfortunately been confirmed by Index values.
May marked another month of drops for the Kantar Consumer Index, which has currently settled at 3.1% (1.33 pp decrease on the April). The rainy and cold May Weekend, rising fuel prices, or the recent premiere of Sekielski brothers’ Tell No One (a documentary investigating child abuse in the Catholic Church in Poland) have all affected consumers moods in an unfavourable way.
The ruling party made attempts to salvage social sentiment. In its election campaign, Law and Justice made promises that did not necessarily pertain to the European Parliament, including: a PLN 500 benefit for firstborn children, thirteenth pension payments, abolition of income tax for consumers younger than 26, increasing the tax exempt amount, and restoring local bus routes. The 55+ age bracket is the only outlier, with the Kantar Consumer Index having increased slightly in this group (a 0.1 pp improvement, to 5.1%). On the other hand, the most significant drop affected the 40-54 age bracket – the value decreased by 3.7pp, settling at 3.8%.
The election promises apparently did affect the results of the European Parliament elections on 26 May, as Law and Order won, receiving 45% of the votes, with the European Coalition following in second place (38% of votes).
Will the election result affect the Consumer Index in June? Let’s hope that the upcoming summer vacation turns the trend, and we can see some more optimistic views in the months to come.
Strategic Account Manager