Canada

The Article:

One-third of Canadians say their personal finances have worsened in the last month as gas prices and inflation rise amid the war in Iran, according to a new poll.

The survey conducted by Canada Pulse Insights for CityNews found 60 per cent said their financial position remained the same, while one in 10 said their situation had improved.

Those who said their financial position had worsened were those earning $50,000 or less (40 per cent) and those living in Atlantic Canada (37 per cent). East Coasters were followed closely behind by those in British Columbia at 35 per cent and Alberta at 34 per cent.

Poll respondents who said their financial position had improved were those aged 18 to 24 at 14 per cent, men at 13 per cent and those earning over $50,000 per year (11 per cent). Improvement was also noted in Quebec at 14 per cent.

Meanwhile, nearly 80 per cent of those surveyed said they would be worried about their personal or family day-to-day finances, and 34 per cent said they would likely struggle to make ends meet.

A total of 14 per cent believed they could lose their job or be laid off because of a lack of work and said they would not have the ability to purchase the products they need for themselves or their family.

Nearly one in 10 Canadians, 13 per cent, said they would likely default on making payments on loans or a mortgage, and seven per cent said they are likely to declare bankruptcy.

The survey’s release comes as gas prices were expected to jump 10 cents on Wednesday to 195.9 cents per litre, the highest since the summer of 2022.