Thu, 01 Jan 1970 01:00:00 +0100Tue, 21 Jul 2026 23:39:09 +0200Czechs enjoying higher living standards 25 years after overnight transition to market economyhttps://english.radio.cz/czechs-enjoying-higher-living-standards-25-years-after-overnight-transition-8238326© 2026 Radio Prague International Twenty-five years ago, on New Years Day, Czechs experienced a shock transition from communist planning to a market economy. The post-communist government of prime minister Petr Pithart launched a price deregulation sending the price of goods up several fold overnight. Since then prices have increased on average 5 times but a faster growth in wages means that Czechs are enjoying a much higher living standard than before the fall of communism. The daily Mladá fronta Dnes recalls this economic milestone in its Wednesday edition. encr@radio.cz (Cesky Rozhlas)webmaster@radio.cz (CRo Webmaster) https://english.radio.cz/sites/default/files/images/supermarket_pokladni.jpg?timestamp=1638363607 Czechs enjoying higher living standards 25 years after overnight transition to market economy https://english.radio.cz/czechs-enjoying-higher-living-standards-25-years-after-overnight-transition-8238326 Radio Prague International Radio Prague International radio.prague.int@gmail.com clean 0 1 2 3 4 5 6 7 8 9