Half of young people feel at least a 16 percent increase in prices

Young people are experiencing a much greater increase in prices than the official data reflects. In February, according to members of the 19-29 age group, prices were on average 19 percent higher than a year earlier. The median value also indicated an annual price increase of 16 percent – this is what the K&H Youth Index found in the first quarter.

It used to be true, but not now

The double-digit values ​​for February’s annual inflation rate in the survey far exceed the official data of a rate of over 5 percent. This is also interesting because last year there was a significant difference between the inflation perceived by young people and the actual data, while the year before last, at the beginning of 2023 – during the period of extreme price increases – the inflation perceived by young people was practically the same as the reported one, both being 26 percent.

The detailed figures of the recent survey also show that only 8 percent of young people experienced a 1-4 percent, i.e. barely noticeable, price increase. In contrast, the others reported much higher values: 18 percent put the perceived inflation rate between 5 and 10 percent. In addition, 15 percent reported a price increase of 11-14 percent, and another 13 percent reported a price increase of 15-19 percent. Also, nearly a sixth of them experienced a 20-24 percent increase in everyday prices. Almost a tenth of them still mentioned an exceptionally high inflation rate of over 40 percent – the latter’s rate even reached 25 percent at the beginning of 2023.