Canadian Survey of Consumer Expectations

The Canadian Survey of Consumer Expectations (CSCE) is a quarterly survey aimed at measuring household views of inflation, the labour market and household finances, as well as topical issues of interest to the Bank of Canada.

The CSCE also provides data by age, geography, income and education.

Note: The survey results summarize opinions expressed by the respondents and do not necessarily reflect the views or policies of the Bank of Canada. The method of sample selection ensures a good cross-section of opinion, which is representative of the Canadian population.

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Latest Survey of Consumer Expectations

January 16, 2023

Canadian Survey of Consumer Expectations—Fourth Quarter of 2022

Results of the fourth-quarter survey show that consumers have reduced their purchases of a broad range of goods and services in response to rising inflation and increases in interest rates. High food prices are a particular source of frustration for households. Most consumers anticipate a mild or moderate recession in the next 12 months. And although labour markets continue to be strong, some early signals suggest consumers think this strength will fade. Meanwhile, short-term inflation expectations remain elevated this quarter, but consumers have varied opinions about where inflation will be in five years. More people than before the pandemic expect deflation.
Content Type(s): Publications, Canadian Survey of Consumer Expectations
October 17, 2022

Canadian Survey of Consumer Expectations—Third Quarter of 2022

This survey took place between August 2 and August 23, 2022. Follow-up interviews took place in September. Expectations for inflation one to two years ahead have continued to rise because consumers anticipate supply chain disruptions and elevated oil prices will persist. In contrast, expectations for inflation five years ahead have eased to near pre-pandemic levels. Still, consumers are more divided this quarter about where inflation will end up in the long term.
Content Type(s): Publications, Canadian Survey of Consumer Expectations
July 4, 2022

Canadian Survey of Consumer Expectations—Second Quarter of 2022

This survey took place between April 28 and May 13, 2022. Follow-up interviews took place in June. Consumers’ expectations for inflation have risen, alongside concerns about prices for food, gas and rent. Short-term expectations are at record-high levels. Long-term inflation expectations increased significantly in the second quarter of 2022, returning to the levels they were at before the COVID-19 pandemic. Most people believe the Bank of Canada can achieve its inflation target. However, some think the process of bringing inflation down will be difficult for the Bank of Canada. Expectations for higher inflation and rising interest rates weigh on consumer confidence. People expect that credit conditions will worsen and wage growth will not keep up with inflation. Flexible work arrangements could attract more people into the labour force.
Content Type(s): Publications, Canadian Survey of Consumer Expectations
April 4, 2022

Canadian Survey of Consumer Expectations—First Quarter of 2022

This survey took place in mid-February 2022 before Russia invaded Ukraine on February 24, 2022. Follow-up interviews took place in March and provide some insight into how consumers perceive the effects of the conflict. Short-term inflation expectations have reached record-high levels because of supply disruptions and the COVID 19 pandemic. Consumers think the Russian invasion of Ukraine will make high inflation worse. Despite greater concerns about inflation today, longer-term expectations have remained stable and are below pre-pandemic levels. This suggests that long-term inflation expectations remain well anchored and that survey respondents believe the current rise in inflation will not last. Although workers anticipate significant price increases in the near term, they believe their wages will increase only modestly. This is a source of dissatisfaction for them. Despite expecting higher interest rates, consumers continue to anticipate strong spending growth on a broad range of goods and services.
Content Type(s): Publications, Canadian Survey of Consumer Expectations

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