As the holiday season approaches, many Canadians are grappling with significant financial stress. A new survey from the Angus Reid Institute reveals that one in five Canadians is experiencing “high” financial pressure, marked by job insecurity, rising debt, and difficulties putting food on the table. This group, which faces a pessimistic outlook for 2026, also struggles with increased costs of living. Meanwhile, three-in-five members of this group predict their financial situation will worsen next year.
While a quarter of Canadians are faring better, reporting “low” financial pressure, the majority of Canadians (59%) are most concerned about the rising cost of living, especially food prices. Food inflation has outpaced overall inflation for nine consecutive months, and experts expect it to continue rising by four to six percent in 2026. This will add nearly $1,000 to the annual grocery bills of a typical family of four.
Some good news is emerging for renters and mortgage holders, with rent becoming more affordable and mortgage payments more manageable in recent months. However, with debt still a persistent issue for many Canadians, there is little room for optimism. With household debt levels at their highest in the G7, many Canadians, particularly those in lower-income brackets, are worried about managing expenses in the year ahead.
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