22% of Canadians say they’re ‘completely out of money’ as inflation bites: poll – National | Globalnews.ca

pinch high inflation And Rate of interest More Canadians, and women in particular, are saying their budget is at breaking point according to a new survey.

An Ipsos Public Affairs poll conducted exclusively for Global News shows that a growing proportion of Canadians (22 per cent) are “completely out of money” that they will not be able to pay more for household necessities.

This figure is up three percentage points from a similar turnout in October and rises to 28 percent among women.

Click to play video: 'What to expect from inflation, interest rates in 2023'

What to expect from inflation, interest rates in 2023

One in four residents of Ontario and Quebec say they are completely left out, according to the poll, as do 35 percent with a household income of less than $40,000.

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Ipsos’ findings are based on a survey of more than 1,000 Canadians conducted from January 19-23.

An additional 32 percent say the pressure to meet the rising cost of staples such as food, clothing, transportation and shelter will force major changes to their spending plans.

Overall, more than half of respondents (54 percent) say they will struggle to absorb further increases in prices in their budget, up five percent from October.

Inflation is coming down, but don’t worry

Even though there have been signs of easing inflation in recent months – the cost of living rose 6.3 per cent in December, down from a peak of 8.1 per cent in June – polling suggests Canadians are not yet feeling relieved.

More than half of Canadians (52 per cent) are still worried they will not have enough money to feed their families – down just one percentage point from November’s poll. Women who have children and those aged 18-34 were most likely to hold this sentiment.

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Downtown Toronto mom of 2 on rising prices: ‘I’m struggling a lot’

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According to Ipsos, women across the board are more concerned about finances.

Eight in 10 Canadians (81 per cent) said they were worried that inflation would make everyday things unaffordable for them – unchanged from November’s figures – with 86 per cent of women holding this belief.

Click to play video: Single mother of 2 living in downtown Toronto on rising prices: 'I'm struggling'

Single mom of 2 living in downtown Toronto on rising prices: ‘I’m struggling a lot’

While 68 per cent of Canadians were concerned that interest rates would rise faster than they can keep up with, 77 per cent of women, compared to 59 per cent of men surveyed, expressed concern.

Some 62 percent of women were concerned that they would not be able to afford gas, up from 56 percent of the general population.

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These are some of the findings of an Ipsos poll conducted by Global News between January 19 and January 23, 2023. For this survey, 1,001 Canadians aged 18+ were interviewed. Quotas and weighting were employed to ensure that the composition of the sample reflected the population of Canada according to census criteria. The accuracy of Ipsos online polls is measured using a credibility interval. In this case, polling is accurate to within ± 3.5 percentage points 19 out of 20 times all Canadians aged 18+ voted. Credibility intervals will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to, coverage error and measurement error.

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