OTTAWA: The majority of Canadians have responded to price increases by reducing spending in recent months, according to new data of a survey released on Monday, said Xinhua.
Four in five said they have cut spending by either trimming their discretionary budget, delaying a major purchase, driving less, scaling back travel and charitable donations, or deferring saving for the future, said a report by the Angus Reid Institute which conducted the online survey from Aug 8-10 among a representative randomised sample of 2,279 Canadian adults.
This represented an increase from the three-quarters who said so in February, according to the research agency.
Half said in the survey they couldn’t manage a sudden expense of more than 1,000 Canadian dollars (US$800). For two in five, a surprise bonus of 5,000 Canadian dollars (US$4000) would be used to alleviate the pressure of debt. For one in ten, it would immediately be put towards daily expenses.
Canadian unemployment levels continue to hover around record lows, but this does not necessarily mean that everyone in the workforce is comfortable, the Angus Reid Institute said.
According to the survey, one in three Canadian households are evidently dealing with uncertainty when it comes to job stability. – Bernama