Three-quarters of Canadians (73%, 34% very/39% somewhat) are concerned that interest rates could rise sharply, indicating that the situation may be out of their control.
For many Canadians, however, more than half (54%) are concerned they won’t be able to take a vacation this summer (24% a lot/30% to some degree), perhaps anticipating that inflation will drop in the summer. Will go
In addition, one out of every four Canadians (24%) say they are already out of money and cannot pay extra for basic essentials.
Young people aged 18-34 (22%) are most likely (30%) to think they are already on the verge of being unable to bear rising expenses, along with those aged 35-54 but people aged 55+ are less likely (21%).
These numbers are the same as in November 2021. Therefore, fears about inflation have increased, but the real impact on household finances has not changed significantly in the recent four months.