It is the result of a year of inflation and meager support from the state, which was nowhere near matched. Portuguese families are struggling, with half of them admitting they are unable to pay at least one of their regular bills.
The figures are revealed in the ECPR – European Consumer Payment Report 2022, Intrum’s latest study, and indicate that households renting a home are most affected (61%), right after those on lower incomes (74%). According to the age groups, “Generation X (45 to 54 years old) is the one that most identifies with this statement, at 73%”.
The conclusions are in line with those of the Bank of Portugal (BdP) study, which already revealed the trend in debt levels at a worrying pace, “because of the significant increase in the inflation rate, which has weakened the purchasing power of the consumer”. According to Intrum’s report, household debt rose 3.6% in December, the highest annual growth rate since 2008, when the financial crisis erupted that eventually forced Portugal to call the troika to get out of the hole.
Source: DN
