Half of young people feel at least a 16 percent increase in prices
Young people experienced an average inflation rate of 19 percent in February this year, but the median value was also 16 percent, according to the latest results of the K&H Youth Index. This means that 19-29 year-olds are experiencing a four-fold increase in prices in their everyday lives compared to the official inflation rate, and most of them are not very optimistic about the future.
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.
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