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One-Third Of Canadians Say They're Worse Off Than A Year Ago: Poll

One-third (33%) of Canadian households say their financial situation is worse today than it was a year ago, according to a new poll by Leger.

While a majority of respondents (58%) said their financial situation is about the same as it was in early 2021, a total of 34% said they're financially worse off than last year due to inflation and rising interest rates.

People in lower income brackets were more likely to report feeling the impacts of inflation, the poll found.

Among Canadian households earning less than $40,000, 42% reported that their financial situation has worsened. That compares with 25% of households earning $100,000 or more.

High inflation and rising interest rates continue to put a damper on Canadians' finances, particularly their disposable income.

The survey found that Quebecers were the least likely to report their financial situation has worsened, while respondents in British Columbia were the most likely to say they are worse off than last year.

Renters were also more likely than homeowners to report that their finances have deteriorated.

The online survey was conducted by Leger between January 23 and 25 of this year and polled 1,554 Canadians nationwide. Online polls cannot be assigned a margin of error.