Canadians Under 35 Still Recovering From Pandemic-Era Inflation: Bank of Canada
Canadians under 35 years of age have yet to recover from higher inflation seen during the COVID-19 pandemic, while older Canadians have fared better, according to a new Bank of Canada report. “A large number of Canadians continue to view their budgets as stretched even though inflation has slowed since the pandemic,” researchers wrote in [...]
TL;DR
- Canadians under 35 are still affected by higher inflation from the COVID-19 pandemic.
- Older Canadians have recovered better from the economic impact of the pandemic.
- Younger households (under 35) saw spending exceed income in 2025 compared to pre-pandemic trends.
- This resulted in a $4,249 shortfall for younger households, with spending $9,618 higher and incomes $5,369 higher than their pre-pandemic trends.
- The Bank of Canada acknowledges that Canadians' stretched budgets are a valid concern.