Inflation: nearly half of Canadians are struggling financially

Nearly half of Canadians have said that their financial situation is currently worse than that of the same period last year, in particular due to the increase in the inflation rate for several months, according to a recent survey by the Institute Angus Reid.

Inflation: nearly half of Canadians are struggling financially

Nearly half of Canadians have said that their financial situation is currently worse than that of the same period last year, in particular due to the increase in the inflation rate for several months, according to a recent survey by the Institute Angus Reid.

According to the survey published on Friday, another third of respondents believe that the situation will worsen during the year.

In the second quarter of 2022, 45% of Canadians surveyed said the impact on their wallet is greater this year, compared to just 32% in 2020 and 29% in 2018.

This is the highest rate recorded since the survey began in 2010.

Only 17% of respondents said they were better off financially compared to the previous year, when 23% said the same in 2020.

Recall that the inflation rate jumped 7.7% in May 2022 compared to the previous year, which represents the largest annual increase since January 1983.

The survey was conducted among 5,000 Canadian adults between June 7 and June 13, 2022.

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