Inflation in Canada: The Impact on Our Financial Future

Our 2024 Inflation Survey Highlights the Sweeping Impact of Canada’s Rising Inflation on Our Financial Future

Years of the rapidly rising cost of goods has made inflation a top concern for many Canadians. Faced with less spending power than in years past, it inevitably forces change in virtually all aspects of our spending, lifestyle, and future. We set out to explore this in late 2023, launching a survey that received over 1,200 responses from Canadian adults. Our team analyzed the findings, and layered on additional facts and details, eventually building a hub of content that tackles the many dimensions of change imposed by Canadian inflation.

When considering this assignment, we asked ‘Does the world really need more noise around inflation?’ After all, inflation is in the news every SINGLE day. Each time new monthly numbers are released from Statistics Canada, we get news reports of which categories are up or down. Yet we felt there was an important perspective missing in all of the news: the big picture. We’re facing a monumental shift in spending power that will impact virtually every aspect of our financial lives for decades to come. That’s worth some effort and some ink.

But don’t take our word for it. In our 2024 inflation survey we asked Canadians for their opinion on the impact of inflation on their future financial security. Of over 1,200 respondents, more than half were “very concerned” (25.7%) or “extremely concerned” (27.0%).

Our video summary highlights some of the key findings from our research and analysis, but it only scratches the surface. To understand, in factual detail, the various ways inflation is impacting the lives of Canadians, visit the linked posts below.