https://sputnikglobe.com/20220822/four-in-five-canadians-have-reduced-spending-due-to-high-inflation-poll-shows-1099866177.html
Four in Five Canadians Have Reduced Spending Due to High Inflation, Poll Shows
Four in Five Canadians Have Reduced Spending Due to High Inflation, Poll Shows
Sputnik International
WASHINGTON (Sputnik) – Canada’s current high inflation levels have forced four out of five Canadians to significantly reduce their spending, according to an... 22.08.2022, Sputnik International
2022-08-22T14:45+0000
2022-08-22T14:45+0000
2022-08-22T14:46+0000
economy
canada
inflation
spending
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"Fully four-in-five say they have cut spending in recent months by either trimming their discretionary budget, delaying a major purchase, driving less, scaling back travel and charitable donations, or deferring saving for the future," the pollster said.Compared to February 2022, when the same pollster revealed that 74% of Canadians had decided to cut their spending to deal with inflation, an increase of 6% has been observed.According to the poll, 52% struggle with the sudden rise of expenses surpassing $1,000. Thirty-eight percent of Canadians would take $5,000 to alleviate their debt and 10% would spend the same amount on their daily expenses.The survey shows amongst other things that 57% have reduced their discretionary spending, 42% have delayed major purchases and 41% opted for driving less, reducing their gas consumption.Angus Reid carried out the poll on August 8-10 among a representative randomized sample of 2,279 Canadian adults who are members of Angus Reid Forum. The poll has a +/-2% error margin.
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canada, inflation, spending
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Four in Five Canadians Have Reduced Spending Due to High Inflation, Poll Shows
14:45 GMT 22.08.2022 (Updated: 14:46 GMT 22.08.2022) WASHINGTON (Sputnik) – Canada’s current high inflation levels have forced four out of five Canadians to significantly reduce their spending, according to an Angus Reid Institute poll out Monday.
"Fully four-in-five say they have cut spending in recent months by either trimming their discretionary budget, delaying a major purchase, driving less, scaling back travel and charitable donations, or deferring saving for the future," the pollster said.
Compared to February 2022, when the same pollster revealed that 74% of Canadians had decided to cut their spending to deal with inflation, an increase of 6% has been observed.
According to the poll, 52% struggle with the sudden rise of expenses surpassing $1,000. Thirty-eight percent of Canadians would take $5,000 to alleviate their debt and 10% would spend the same amount on their daily expenses.
The survey shows amongst other things that 57% have reduced their discretionary spending, 42% have delayed major purchases and 41% opted for driving less, reducing their gas consumption.
Angus Reid carried out the poll on August 8-10 among a representative randomized sample of 2,279 Canadian adults who are members of Angus Reid Forum. The poll has a +/-2% error margin.
