One-in-three Canadians say they are in rough financial shape, and two-in-five are dipping into their savings to get by, according to a recent survey by the Angus Reid Institute.
“More than a year into a stubborn and persistent cost-of-living crisis, a considerable number of Canadians have progressed from belt-tightening on spending to drawing on existing savings to make ends meet,” the institute said in an April 6 news release.
Inflation reached peaks in 2022 not seen in Canada since the 1980s, Angus Reid said, putting pressure on household budgets, especially regarding buying groceries. The number of Canadians describing themselves as struggling financially is at the highest level since the COVID-19 pandemic began in 2020, according to the survey results….