When asked in the third quarter of 2023 what the inflation rate had been in the last 12 months, 18 to 24-year-olds in Canada believed it was around 12.5 percent, a staggering figure. This dropped slightly to some nine percent when asked again in early 2024. Younger Canadians frequently perceived the rate of inflation to be higher than their older counterparts did.
Perceived inflation rate among consumers in Canada from the fourth quarter of 2014 to the first quarter of 2024, by age group
The source explains that the figures are median values. Respondents were asked about current inflation rates, i.e., what they believed the rate of inflation (deflation) was over the past 12 months.
* The source adds that before the second quarter of 2018, the survey consisted of 1,000 respondents.
Adapted from Statistics Canada, bankofcanada.ca, Q4 2014 to Q1 2024. This does not constitute an endorsement by Statistics Canada of this product.
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Bank of Canada. (April 1, 2024). Perceived inflation rate among consumers in Canada from the fourth quarter of 2014 to the first quarter of 2024, by age group [Graph]. In Statista. Retrieved November 03, 2024, from https://www.statista.com/statistics/1362440/quarterly-inflation-perceptions-canada-by-age/
Bank of Canada. "Perceived inflation rate among consumers in Canada from the fourth quarter of 2014 to the first quarter of 2024, by age group." Chart. April 1, 2024. Statista. Accessed November 03, 2024. https://www.statista.com/statistics/1362440/quarterly-inflation-perceptions-canada-by-age/
Bank of Canada. (2024). Perceived inflation rate among consumers in Canada from the fourth quarter of 2014 to the first quarter of 2024, by age group. Statista. Statista Inc.. Accessed: November 03, 2024. https://www.statista.com/statistics/1362440/quarterly-inflation-perceptions-canada-by-age/
Bank of Canada. "Perceived Inflation Rate among Consumers in Canada from The Fourth Quarter of 2014 to The First Quarter of 2024, by Age Group." Statista, Statista Inc., 1 Apr 2024, https://www.statista.com/statistics/1362440/quarterly-inflation-perceptions-canada-by-age/
Bank of Canada, Perceived inflation rate among consumers in Canada from the fourth quarter of 2014 to the first quarter of 2024, by age group Statista, https://www.statista.com/statistics/1362440/quarterly-inflation-perceptions-canada-by-age/ (last visited November 03, 2024)
Perceived inflation rate among consumers in Canada from the fourth quarter of 2014 to the first quarter of 2024, by age group [Graph], Bank of Canada, April 1, 2024. [Online]. Available: https://www.statista.com/statistics/1362440/quarterly-inflation-perceptions-canada-by-age/
