Canada News

Falling Behind: 53% of Canadians say they can’t keep up with the cost of living

Summary

As inflation drives up the price of almost everything around them, new data from the non-profit Angus Reid Institute finds just over half Canadians feeling like they’re outpaced by the rising cost of living. A slight majority (53%) agree that […]

As inflation drives up the price of almost everything around them, new data from the non-profit Angus Reid Institute finds just over half Canadians feeling like they’re outpaced by the rising cost of living.

A slight majority (53%) agree that they can’t keep up, while there are 44 per cent who say that they have yet to feel that level of pressure.

Canadians’ household budgets are becoming squeezed from all angles as the price of goods rises. The costs of food, gasoline, and energy in particular are adding to household bills. Within this context, half say they would be unable to cover an unexpected $1,000 expense (51%), including one-in-seven who say they couldn’t deal with a surprise bill of any amount because their budget is already too stretched.

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