Nearly half, or 45 per cent, of Canadians say rising prices are “greatly impacting” their ability to meet day-to-day expenses, which is 12 percentage points higher than two years ago, according to a Statistics Canada study.
The feeling was most prevalent among young adults, who were more likely to report daily financial stresses and expectations to obtain food from a food bank. Among those who said they were stressed about money “most days,” just one in five people reported a high level of life satisfaction.
The study, which compiled responses from Canadians gathered in the spring, was published on Thursday.
Children were also an indicator of greater financial stress. Fifty-five per cent of households with kids reported day-to-day pressure, compared to 37 per cent of lone-occupant houses.
Housing affordability was also a common thread among respondents, many of whom reported elevated fears they would not make enough to buy a home or afford rent.
About four in 10 people said they were "very concerned" about being able to purchase a house or pay rent monthly. In 2022, three in 10 people felt that way.
StatCan says prolonged feelings of financial instability can result in widespread mental health impacts. One in three people described "most days" as "a bit" or "extremely" stressful because of money issues. That figure remained unchanged from two years ago.
Canadians are generally carrying more debt, according to another StatCan study published Thursday.
During COVID-19 lockdowns, many were able to build their savings and cut down on debt as businesses deemed non-essential closed and officials limited travel.
But high inflation, among other factors, has eaten through that reserve, and Canadians' debt has increased since 2022.
Non-mortgage loans have reached $553.1 billion in the third quarter of 2023, up 13.7 per cent from the first quarter of 2020.
Passenger vehicle loans saw serious increases as demand for vehicles continued despite pandemic-era manufacturing woes. Prices on those vehicles rose 16.3 from the start of 2020 to the third quarter of 2023.
Passenger vehicle and credit card loans saw the highest rates of arrears, at around 0.6 and 0.9 per cent respectively by the end of Q3 2023, meaning a person was late to provide debt payments by 90 days or more.
As for mortgage loans, arrears were still below pre-pandemic levels. However, StatCan says many households have yet to renew their mortgages.
"Around 2.2 million mortgages, or 45 per cent of all outstanding mortgages in Canada (over $675 billion), will face an interest rate shock in 2024 and 2025," predicted the agency, citing data from the Canadian Mortgage and Housing Corporation.
Airports are currently facing a partial system outage, Canada Border Services Agency said Tuesday. The extent of the outage is unclear, however the agency is working with partners to fix the issue, officials said.
Inside a packed London, Ont., courtroom, the 79-year-old woman who was convicted of driving her vehicle into a troop of girl guides, killing one and injuring several others, was sentenced to two years house arrest, followed by three years of probation.
Scientists have found that human beings age at a molecular level in two accelerated bursts – first at the age of 44, and then again at 60.
Senior public servants have been called to a House of Commons committee to explain the government's decision to buy a $9-million condo for the consul general in New York.
Police say they shot and killed three large dogs after the animals attacked a woman in Halifax Tuesday morning.
More than three weeks ago, a wildfire tore through Jasper, Alta., destroying about 30 per cent of the town’s structures. Most of the buildings lost were homes and businesses.
The minimum income needed to buy a home in Canada lowered in July, according to a new report that cites dropping mortgage rates and lowering average home prices.
The Toronto house where Meghan Markle lived is on sale for $1.89 million.
The chief executive of SkipTheDishes says hundreds of Canadian employees are being laid off by the food delivery service and its parent company.
Homicide investigators say a 24-year-old man has been charged with second-degree murder in the stabbing death of a Surrey, B.C., man last month.
Mounties have arrested four people in connection with a shooting that injured a man in northern British Columbia over the weekend.
Authorities are investigating after shots were fired into a white SUV in Surrey's Newton neighbourhood over the weekend.
The Ontario government is moving to close supervised consumption sites for drug users near schools and prohibit any new ones from being built near schools as well.
Airports are currently facing a partial system outage, Canada Border Services Agency said Tuesday. The extent of the outage is unclear, however the agency is working with partners to fix the issue, officials said.
People across Ontario got a sight of a rare super blue moon that illuminated the night skies on Monday.
Calgary police say a man has been charged with defrauding victims out of more than $1.3 million in fraudulent wine sales.
Lethbridge police are searching for a 40-year-old woman they believe is kayaking down the South Saskatchewan River.
One of two men involved in a fatal crime spree that rocked a rural area east of Calgary will be in court Tuesday morning as police continue to search for another man.
Drivers owe the City of Ottawa more than $16 million in unpaid fines for photo radar and red light camera violations over the past six years.
The number of organizations and leaders in Ottawa pulling out of Capital Pride events continues to grow in response to a statement the group made expressing solidarity with Palestinians last week.
A house cat succumbed to its injuries in a fire that started inside the bathroom of an apartment in Centretown on Monday evening.
Quebec Premier Francois Legault is announcing a six-month freeze on certain temporary foreign worker applications in Montreal.
More than 32,000 rail commuters across the country will have to find new routes to work if there is a work stoppage at Canadian Pacific Kansas City Ltd. this week.
Airports are currently facing a partial system outage, Canada Border Services Agency said Tuesday. The extent of the outage is unclear, however the agency is working with partners to fix the issue, officials said.
Hinton and Edson RCMP are asking the public to identify a man who allegedly approached several women from behind, forcibly pulled their pants down and took photos.
One person has been charged after a shooting in the parking lot of an Edmonton spray park earlier this year.
Several buildings in southwest Edmonton were evacuated on Tuesday morning after a gas leak, Edmonton Fire Rescue Services has confirmed.
Victims of a stabbing at a high school in Bedford, N.S., in March 2023 took the witness stand Tuesday and delivered their emotional victim impact statements.
Police say they shot and killed three large dogs after the animals attacked a woman in Halifax Tuesday morning.
Many heartfelt condolences are pouring in for Allan Andrews, a prominent figure in the hockey community on Prince Edward Island, since the news of his death was made public Tuesday morning.
People living in a downtown apartment building have all been evacuated due to "significant flooding" according to the property manager.
The daughter of a Winnipeg senior who has been missing since December last year wants Silver Alerts to reach more people when they are issued.
A 34-year-old man has been charged with multiple offences after another man was kidnapped and sexually assaulted one week ago.
Regina Transit will be adding more than 25,000 hours of bus service to some of its busiest routes.
With just a few weeks until the beginning of another school year, a number of organizations in Regina are helping families with the rising costs of school supplies needed for new and returning students.
A small but dedicated group of concerned Regina citizens delivered a petition against 'NIMBY-ism' to Regina city hall Monday morning.
A portion of Highway 7/8 in Kitchener will be closed this weekend as the Region of Waterloo installs a new pedestrian bridge.
A wanted man and a woman are facing a long list of charges after being arrested last week in Brantford.
The Ontario government is moving to close supervised consumption sites for drug users near schools and prohibit any new ones from being built near schools as well.
Many of Saskatchewan’s summer destinations are known for providing an opportunity to see wildlife, and one of the most elusive of the animals in the province has been making more of an appearance this year. Experts say that’s cause for concern.
The Saskatoon Police Service alleges its officers were assaulted on Saturday night during cruise weekend, but witnesses are telling a different story.
The mayor of Sandy Bay, a remote northern village, said the community has declared a state of emergency, as an intense wildfire threatens the area.
Many of us pay our bills using online banking because it's simple, fast and usually problem free, but if you make a mistake and pay the wrong amount, it can sometimes be difficult to get your money back.
Airports are currently facing a partial system outage, Canada Border Services Agency said Tuesday. The extent of the outage is unclear, however the agency is working with partners to fix the issue, officials said.
The minimum income needed to buy a home in Canada lowered in July, according to a new report that cites dropping mortgage rates and lowering average home prices.
Around 6:30 a.m. on Monday, police said a woman was walking a dog in the 1200 block of Brydges Street near Highbury Avenue when a man approached her, pushed her to the ground and stabbed her multiple times before running from the area.
Inside a packed London, Ont., courtroom, the 79-year-old woman who was convicted of driving her vehicle into a troop of girl guides, killing one and injuring several others, was sentenced to two years house arrest, followed by three years of probation.
LHSC has announced five more senior staff have left the organization. It’s part of the hospital’s bid to knock down its $150-million budget deficit projected for 2025
Fire crews were called to battle flames that broke out at a property in Orillia and caused significant damage in the early morning hours on Tuesday.
A fire that caused a large, dark plume of smoke into the skies over Barrie on Monday is not considered suspicious.
Provincial police charged a motorist with being impaired after a collision in Orillia over the weekend.
Windsor police have released video footage of two vehicles being torched on Langlois Avenue.
Airports are currently facing a partial system outage, Canada Border Services Agency said Tuesday. The extent of the outage is unclear, however the agency is working with partners to fix the issue, officials said.
The Windsor Police Service Arson Unit has launched an investigation following what has been deemed a “deliberate” fire at a home on Pelissier Street with eight people inside.
Two rescued otter pups have arrived at their new forever home at the Vancouver Aquarium.
Homicide investigators say a 24-year-old man has been charged with second-degree murder in the stabbing death of a Surrey, B.C., man last month.
Mounties have arrested four people in connection with a shooting that injured a man in northern British Columbia over the weekend.
Mounties in West Kelowna are looking for a suspect they say broke into a local home while a mother and her child were inside.
When the McDougall Creek fire sparked on Aug. 15, 2023, no one could’ve imagined it would mushroom in size, consuming homes, infrastructure and livelihoods in the West Kelowna area with damage that will take years to address.
Thieves in B.C.'s Okanagan recently made off with an enclosed trailer containing a classic muscle car, local police say.
Lethbridge police are searching for a 40-year-old woman they believe is kayaking down the South Saskatchewan River.
The average price of a home in Lethbridge has jumped by more than 19 per cent over the past year, statistics indicate.
Trucks have started rolling into what will become Lethbridge’s Whoop-Up Days midway.
A bacon-flavoured vodka designed specifically for a popular Canadian cocktail and made in Sudbury, Ont., is now being carried by the LCBO.
An Ontario Provincial Police officer noticed a strong smell of cannabis during a traffic stop Sunday in Espanola. Further investigation uncovered drugs and weapons.
After a crow tested positive for West Nile virus, Algoma Public Health says a human case has also been confirmed.
A trial is underway for an RCMP officer accused of assaulting an unruly flight passenger after he was escorted off an international flight that had been diverted to the airport in Stephenville, N.L.
Newfoundland has caught a lucky break with Hurricane Ernesto expected to pass south of the island, but the fast-moving storm will still bring a lot of rain in a short time overnight on Monday, Environment Canada says.
The project of the university's Folklore and Language Archive aims to find the first names of women who contributed remedies, recipes and local beliefs, but were only credited as a 'missus,' with their husband's last name and often his first name or initials.
The Twilite Drive-in Theatre has been serving movie lovers for decades.
More than a dozen children who have been diagnosed with chronic illnesses were given an unforgettable experience on the way to Sunday’s BC Lions game.
Decades of durability have been added to one of Canada’s most photographed lighthouses, the Swallowtail Lighthouse on New Brunswick’s Grand Manan Island.
After four open heart surgeries, 10-year-old Samih Angelo Alame is thriving and ready to hit Grade Six running.
The owners of a thrift store on Vancouver's Granville strip are fed up after spending $300,000 to fight off what they describe as escalating crime over the past three years.
In light of World Honey Bee Day on Saturday, local beekeepers recognized the crucial role that honey bees play in the ecosystem.
A video of a rooster in the back of a Regina police cruiser has been making its rounds on social media.
At least one runner at the Edmonton marathon on Sunday will be strapping on a pair of stilettos at the starting line.
London, Ont.'s Tessa Virtue has welcomed her first child with husband and Toronto Maple Leafs defenceman, Morgan Rielly.
The demands of protecting parliamentarians and other public figures are placing 'significant strain' on RCMP personnel and taking resources from other federal policing priorities, warns an internal briefing note.
Speaking from the Democratic National Convention in Chicago on Monday, the Canadian ambassador to the United States says Canada is 'starting from a very good position' with the Democrats’ presidential ticket of Kamala Harris and Tim Walz.
Senior public servants have been called to a House of Commons committee to explain the government's decision to buy a $9-million condo for the consul general in New York.
Scientists have found that human beings age at a molecular level in two accelerated bursts – first at the age of 44, and then again at 60.
A man who says he suffers from chronic and worsening mental health issues is among those launching a court challenge of the federal government assisted dying law, which excludes people suffering solely from a mental disorder.
New Brunswick Medical Society president Dr. Paula Keating says she’s not surprised that there’s overcrowding at the Everett Chalmers Hospital in Fredericton, believing it’s in part due to the “crumbling” primary care system.
A rocket engine exploded during a test launch at a new spaceport in the Shetland Islands off northern Scotland, the rocket manufacturer said Tuesday.
An archeology student unearthed seven 'spectacular' Viking-era curled silver arm rings earlier this year north of Denmark's second-largest city, a Danish museum said on Monday, adding the finding has ties to Russia, Ukraine and the British Isles.
The head of the Alberta Teachers' Association says the rollout of new policies banning cellphone use in classrooms starting this fall has some teachers confused about how they'll be expected to follow them.
Two 18-year-old men have been charged with murder in the killing of former 'General Hospital' actor Johnny Wactor.
Former U.S. president Donald Trump has posted a fake social media image of pop superstar Taylor Swift asking people to vote for him in the November election.
A new movie starring Hollywood heavyweights Robert Pattinson, Jennifer Lawrence and LaKeith Stanfield began filming in Calgary Monday.
Canada's annual inflation rate fell to 2.5 per cent last month, matching economists' forecasts and solidifying expectations for another interest rate cut in September.
More than 32,000 rail commuters across the country will have to find new routes to work if there is a work stoppage at Canadian Pacific Kansas City Ltd. this week.
The chief executive of SkipTheDishes says hundreds of Canadian employees are being laid off by the food delivery service and its parent company.
The Toronto house where Meghan Markle lived is on sale for $1.89 million.
Two rescued otter pups have arrived at their new forever home at the Vancouver Aquarium.
Young people on social media are showing off their 12-year-old water bottles, sweaters from high school with patched holes and dish rags made from cut up old T-shirts.
Argonauts coach Ryan Dinwiddie says recently reinstated quarterback Chad Kelly will start Thursday when Toronto hosts the Saskatchewan Roughriders.
The Montreal Canadiens have acquired star forward Patrik Laine and a second-round pick in the 2026 NHL draft in a trade with the Columbus Blue Jackets for defenceman Jordan Harris.
A former NFL player accused of drunkenly hitting one man and urinating on another during a flight from Boston to Dublin has been arrested and charged with disorderly conduct, the Massachusetts State Police said Monday.
BMW is recalling more than 720,000 vehicles in the United States due to an issue with the water pump's electrical connector that could potentially lead to a fire.
General Motors said Monday it is laying off more than 1,000 salaried employees at its software and service units worldwide.
A man from the Greater Toronto Area said he was refused a car rental because he wanted to pay with a prepaid credit card.
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