Skyrocketing gas prices, soaring food prices, record real estate costs: galloping inflation affects almost three out of four Quebecers who have no choice but to reduce their spending.
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This is at least what emerges from a Léger-Le Journal-TVA-QUB poll released Thursday which shows that 73% of Quebecers plan to cut their spending due to inflation.
“Across age groups, across regions, it’s three-quarters of people planning to cut. The dynamic is not positive,” said pollster Jean-Marc Léger, adding that all Quebecers share the same concern.
Restaurant owners, bar owners and the entertainment world, all hard hit by two years of the pandemic, risk being the first to be deprived of Quebecers' dollars.
“Economic activity, if inflation continues, is likely to be disrupted. The vast majority, 51% of people, say they want to cut outings. […] Essentially, what that means is that people will go out less, ”said Mr. Léger.
Reducing car trips (17%), reducing grocery bills (12%) and changing vacation plans (11%) are also among the strategies mentioned by survey respondents who plan to cut spending.
"The cost of living is not something theoretical for people," said the pollster.
Burn less gas
At more than $2 per litre, the cost of gasoline is of particular concern to Quebecers, with barely 19% of respondents saying that the price at the pump has no impact on their lives.
Among ordinary mortals, the surge in black gold has the main effect of reducing the use of the car (44%), or even force to make cuts elsewhere in the budget to continue to refuel (28%) .
“There is really an effect in people's daily lives. We have reached a level where it changes the lifestyle of Quebecers,” said Jean-Marc Léger.
Despite everything, barely 6% of respondents said they wanted to get an electric vehicle and 5% wanted to get a more energy-efficient car, two options that are not always easy to put into practice due to the shortage of electric vehicles and the scarcity of used vehicles.
Run the discounts
The more expensive than ever grocery basket – remember that several food categories were up 10 to 20% over one year last April – is also pushing the vast majority of consumers to change their habits, with barely 15% of respondents who do not feel concerned.
Thus, 57% of respondents ensured that they shop more for specials and 28% favor house brands, which marks a paradigm shift.
"It was in Quebec that we used discounts the least, that we bought house brands the least, but this is less and less true," said Mr. Léger, specifying that house brands now represent 25 to 30% of purchases.
Respondents also said they were ready to cut down on meat (25%) and prepared meals (19%), or even on alcohol (14%) or vegetables (14%) to save money.
