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On Feb. 7, we ran a story about a new poll regarding financial situations for Canadian households.
One−third of Canadian households say their financial situation has worsened over the last year, according to the Leger poll commissioned by the Association for Canadian Studies.
The majority of respondents, 58%, said their financial situation is about the same as it was a year ago.
The article continued on to note potential factors cited, such as high inflation and rising interest rates squeezing Canadians’ finances over the last year. To clamp down on rapidly rising prices, the Bank of Canada has raised interest rates aggressively with eight straight increases since March.
The online survey was completed by 1,554 Canadians between Jan. 23 and 25, and could not be assigned a margin of error because online polls are not considered truly random samples.
These results are coupled with a report last year that food bank usage across Canada hit an all-time high.
So, are you financially worse off compared to one year ago?