Nearly half of Canadians say rising prices affect their expenses: Survey

​​​​​​​By Ovunc Kutlu

ISTANBUL (AA) - Nearly half of Canadians, 45%, reported that rising prices were greatly affecting their ability to meet day-to-day expenses in the spring of 2024, according to survey results released Thursday by Statistics Canada.

The figure is 12 percentage points higher than what it was two years ago when it was 33%, said the agency.

In the spring, nearly four in 10 Canadians, or 38%, reported being "very concerned" with their ability to afford housing or rent because of rising housing prices, compared with 30% in the spring of 2022, it said.

"Since 2021, price inflation of food has placed financial strain on Canadians," the agency said in a statement. "This extended period of financial strain can also negatively impact mental health."

"When asked about financial-related stress in spring 2024, more than one-third, or 35%, of Canadians described most days as quite a bit or extremely stressful due to financial issues," it added.

Nearly six in 10 people in the lowest income quintile, or 59%, and about half of those in the second and third income quintiles, 52% and 48%, respectively, reported in the spring that rising prices greatly affected their ability to meet day-to-day expenses, according to the survey.

The Canadian Social Survey was conducted April 19 - June 3, said Statistics Canada.