Inadequate income for 66% of over-55s, young people more optimistic

In the current context of rising prices, three different types of behaviour can be identified according to age group: the more mature, more rational and pessimistic; adults who are characterised by a more emotional and moderately optimistic approach; and finally, the younger ones who could be described as hopeful. This can be deduced by analysing the results of the survey conducted by the demoscopic institute Noto Sondaggi for Il Sole 24 Ore.

More than 60 per cent of Italians do not consider their income adequate to support the cost of living, and this figure, disaggregated by age group, highlights great disparities. Among the over-55s, which also include pensioners, the percentage of those who complain of low income compared to the cost of living rises to 66 per cent, while in the median age group it drops to 59 per cent and for younger people to 51 per cent. In addition, about 1/3 in each age group consider their salary to be adequate for their standard of living.

Then there is also the different perception of inflation. For the product categories defined as "essential" (home, bills, fuel), there are significant differences between the perception of younger people (+13.6%) and that of adults (+17.6%), but in the other sectors the divergences increase. In the food sector, the under 35s record a perceived inflation of +9.2%, while for the over 55s it is +13.6%. A gap, however, that is present in almost all categories and that reaches its maximum in health services and expenditure (+13% for the more mature against +4.8% for the young). Substantial differences are also found for recreation, entertainment and culture: for the young the perceived inflation is +1.8% while for the more mature it reaches +8.4%.

One would think that sometimes those who spend more in a sector might feel that prices have risen more than those who spend less. It happens for example in the health sector, where the more mature are more likely to spend.

These differences are the result, and at the same time the cause, of different consumption behaviour. For example, energy costs weigh heaviest on monthly expenditure for 88% of the over-55s, a percentage that drops to 58% among the youngest. The discrepancy could be generated by the different responsibilities carried out in the family: it is usually the parents who are responsible for paying the 'bills', not the children. At the same time, the incidence of fuel costs does not differ particularly by age group. In the restaurant sector, on the other hand, the relationships are reversed: these costs weigh most heavily on the incomes of young people (22%), a percentage that drops to 16% among adults. This is also the case for clothing, defined as highly impactful by 19% of the under 35s against 10% of the over 55s.