America
Canadians adjust spending habits, lifestyle to cope with inflation
Ottawa, June 10
Many Canadians have adjusted their spending habits and lifestyle to cope with consumer inflation which has steadily increased, reaching a year-over-year increase of 6.8 per cent in April, Statistics Canada said.
According to a new survey conducted by the national statistical agency from April 19 to May 1 on Thursday, half of Canadians said they have sought out sales and promotions in the six months preceding the survey.
Meanwhile, 47 per cent have found themselves purchasing cheaper alternatives, brands or items, and 45 per cent have delayed making a purchase in response to rising prices, Xinhua news agency reported.
In addition to making changes to their spending habits, more than one-quarter of Canadians reported that they have had to borrow money from friends or relatives, take on additional debt or use credit to meet day-to-day expenses in the six months preceding the survey.
Several groups were more likely to report borrowing money: those in the bottom two household income quintiles; younger individuals (aged 15 to 39); households with at least one child aged 17 or younger; persons with a disability; and individuals belonging to racialised groups.
Rising prices are also affecting Canadians' ability to save. Nearly 24 per cent said they have had to draw on their savings in order to pay expenses, 29 per cent said they were saving less, and 19 per cent reported they are no longer able to save each month, Statistics Canada added.
1 hour ago
India TV-CNX Exit Polls: BJP-led NDA expected to get over 400 seats
1 hour ago
DMK-led INDIA bloc to win 33-37 seats in TN, says Thanthi TV Exit Poll
1 hour ago
Exit Polls indicate massive gains for BJP in Odisha
1 hour ago
Curtains come down on Lok Sabha polls with over 61 per cent turnout in final phase
1 hour ago
BJP will surpass Exit Poll projections, claims Union Minister Pralhad Joshi
1 hour ago
Counting of votes polled in Arunachal, Sikkim Assembly elections on Sunday
1 hour ago
Exit Polls prove political pundits wrong in Karnataka: State BJP chief
1 hour ago
MahaYuti to lose some, MVA to gain few, predicts Marathi channel Exit Poll
1 hour ago
Exit Polls project major setbacks for Trinamool in Bengal
8 hours ago
New Memorandum of Understanding Announced by Aruna Miller's Administration with NASA
8 hours ago
A press conference is called by Congressman Raja Krishnamoorthi in order to bring attention to the fentanyl pandemic.
8 hours ago
Following Trump's conviction, his campaign announced that $53 million had been raised
8 hours ago
Attack on US vessel in Red Sea by Houthis follows devastating attacks on Yemen