Canadians are expecting to suffer from high interest rates and struggling finances for several years, according to a new report issued by the federal government.
“Research on the State of the Economy,” a Finance Department report released in April 2023, said the data indicates Canadians are “experiencing sticker-stock when it comes to the cost of day-to-day items.” Most said they expected the price for staples such as groceries and gasoline to keep rising and perhaps become unaffordable.
Finance Canada commissioned survey company Environics Research Group at a cost of $279,189.10 to ask adult Canadians their thoughts on the economy, inflation, financial stressors, housing, and other topics in a series of 10 online focus groups in September and October 2022. Environics also conducted an online survey with 2,007 adults between Sept. 23 and Oct. 4, 2022 to obtain data….