A new poll finds one\u002Dthird of Canadian households say their financial situation has worsened over the last year.
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Among Canadian households earning less than $40,000, 42 per cent reported their financial situation has worsened. That’s in comparison with 25 per cent of households earning $100,000 or more.Article content“People … in lower income brackets are finding the pinch particularly difficult in terms of the effects of the inflation and higher interest rates and so forth,” Jedwab said.
Economists say lower-income households are especially vulnerable to inflation because they save less, leaving less of a buffer in the face of high inflation. That means higher prices take a larger bite into their budgets.This advertisement has not loaded yet, but your article continues below.The survey also found Quebecers were the least likely to report their financial situation has worsened, while respondents in British Columbia were the most likely to report being worse off.
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