Details just released show that the Portuguese have been losing their purchasing power for a decade. On average, the average monthly disposable income of households, adjusted for inflation, is currently €175 less than in 2009. This trend is counteracted by Christmas spending, which has doubled in value but is largely paid for by credit cards.
Citing data presented by the CETELEM Observatory, experts believe that spending on specific purchases for the Christmas season will amount to €388 per household while in 2009 the average was around €180.
The same source states that while many Portuguese may have the feeling that they earn more by looking at their payroll or other earnings, when the annual increase in the cost of living is taken into account, Portuguese householders disposable income has fallen from €2554 to €2379 per annum over the last year.
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