Many tactics used to counter inflation

With an inflation rate of nearly 7%, Canadians must compete in imagination and various tactics to try to save money and protect their finances, according to a recent Ipsos poll.

Many tactics used to counter inflation

With an inflation rate of nearly 7%, Canadians must compete in imagination and various tactics to try to save money and protect their finances, according to a recent Ipsos poll.

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Unsurprisingly, more than half of Canadians surveyed (54%) have chosen to reduce their dining out, the survey conducted on behalf of Global News showed.

Postponing new purchases, such as clothes (47%), and cutting back on entertainment (46%) are other popular ways to avoid emptying the wallet.

Many respondents also turned to flyers for sales (51%) or using an app to get coupons (31%).

And while some were counting on border relief to be able to travel after more than two years of the pandemic, the rising cost of living forced them to cut international travel (33%) and even national travel (31%).

The changes are also felt on the plate, with 24% of respondents having decided to reduce their meat consumption and 22% the purchase of fresh fruit and vegetables.

Carpooling is also very popular, as is the reduction in car trips (18%), especially since the price of gasoline has jumped in recent weeks.

And other more drastic measures are being used, with 13% of respondents saying they used money set aside for retirement and 8% delaying or not renewing a medical prescription.

The Ipsos poll was conducted among 1,001 Canadians over the age of 18 from April 14-19, 2022.


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