Higher grocery prices leave Canadians feeling stressed about money – National

A new survey has found that Canadians are feeling stressed because inflationaryespecially from higher grocery prices.

The FP Canada Financial Stress Index survey found that 38% of respondents cited money as the fifth biggest source of stress in eight years, almost twice as much as their personal, work or other health. relationship.

More than two-thirds of Canadians say rising grocery prices are having a direct impact on their financial-related stress; 56% said the same thing about higher gasoline prices, followed by the impact of inflation on prices of goods and services.

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One in three say financial stress leads to anxiety, depression or mental health challenges while 39% say they feel less hopeful about their financial future now than one in three. last year.

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The survey of 2,001 Canadians conducted by Leger also found that 45% of Canadians aged 18 to 34 say financial stress is affecting their mental health, compared with 31% of Canadians aged 35 age and older share the same opinion.

The majority of respondents (58%) say the pandemic has contributed to financial stress, up from 45% in 2021, while 39% feel less hopeful about their financial future than they do. with a year ago.

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“There’s no way to fix it – the combination of a protracted pandemic, record-setting inflation and the rising cost of everything from a mortgage to a bag of milk is stressing Canadians out.” “, said Kelly Ho, Certified Financial Planner and Partner with DLD Financial Group Ltd. in Vancouver, BC

The survey also found that more respondents (44%) say they’re tracking their expenses more than they did last year, and 37% say they’ve saved more money.

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The online survey was completed between April 12 and 20 using Leger’s online dashboard. The polling industry’s professional body, the Research Council of Canada, says that online surveys cannot be assigned a margin of error.

© 2022 Canadian Press

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