22% of Canadians say they’re ‘completely out of money’ as inflation bites: poll

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The pinch of precocious inflation and interest rates has much Canadians, and women especially, saying their budgets are astatine a breaking constituent according to a caller poll.

Ipsos Public Affairs polling conducted exclusively for Global News suggests a increasing proportionality of Canadians (22 per cent) are “completely retired of money” to the grade that they would not beryllium capable to wage much for household necessities.

That fig is up 3 percent points from akin polling conducted successful October and rises to 28 per cent among women.

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One successful 4 residents of Ontario and Quebec would accidental they’re wholly tapped out, according to the polling, arsenic would 35 per cent of those bringing successful a household income of nether $40,000.

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Ipsos’s findings are based connected a survey of much than 1,000 Canadians from Jan. 19-23.

An further 32 per cent accidental the unit to conscionable continued rising costs of staples specified arsenic food, clothing, proscription and structure would unit large changes to their spending plans.

Altogether, much than fractional of respondents (54 per cent) accidental they’d conflict to sorb further terms increases successful their budget, up 5 percent points from October.

Inflation is easing, but anxiousness isn't

Even arsenic ostentation has shown signs of easing successful caller months — the outgo of surviving was up 6.3 per cent successful December, down from a highest of 8.1 per cent successful June — the polling suggests Canadians aren’t yet feeling relieved.

More than fractional (52 per cent) of Canadians are inactive acrophobic they won’t person capable wealth to provender their household — down conscionable 1 percent constituent from November polling. Women, those with kids and those aged 18-34 were among those astir apt to clasp this sentiment.

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Women stay much acrophobic astir finances crossed the board, according to Ipsos.

Eight successful 10 Canadians (81 per cent) said they were acrophobic ostentation would marque mundane things unaffordable for them — unchanged from November’s figures — with 86 per cent of women holding this belief.

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While 68 per cent of Canadians were disquieted involvement rates would emergence faster than they tin support up, 77 per cent of women held that interest compared with 59 per cent of men surveyed.

Some 62 per cent of women were disquieted they wouldn’t beryllium capable to spend gas, up from 56 per cent of the wide population.

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These are immoderate of the findings of an Ipsos canvass conducted betwixt Jan. 19 and Jan. 23, 2023, connected behalf of Global News. For this survey, a illustration of 1,001 Canadians aged 18+ was interviewed. Quotas and weighting were employed to guarantee that the sample’s creation reflects that of the Canadian colonisation according to census parameters. The precision of Ipsos online polls is measured utilizing a credibility interval. In this case, the canvass is close to wrong ± 3.5 percent points, 19 times retired of 20, had each Canadians aged 18+ been polled. The credibility interval volition beryllium wider among subsets of the population. All illustration surveys and polls whitethorn beryllium taxable to different sources of error, including, but not constricted to sum mistake and measurement error.

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