Canadians Cutting Back on Spending As Inflation Continues

Four in five Canadians say they are cutting back on spending, delaying big purchases, driving less, and putting fewer dollars away for a “rainy day” .

According to the poll released today by Angus Reid more than half of Canadians says they couldn’t handle a sudden expense of more than one thousand dollars.

38 percent of the people asked, said they would put bonus money towards paying down debt.

After oil companies reported massive profits after hiking prices at the pump for several months, its no surprise people are somewhat suspicious of the prices they are paying.

The survey found 78 percent of the people asked believe grocery stores are taking advantage of inflation to increase profits.

56 percent of Canadians feel they can not keep up with these increased costs, with just 39 percent feeling like they are keeping pace.

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