A new national survey suggests younger Canadians are carrying the heaviest financial burden from rising inflation, with soaring food, housing and energy costs continuing to strain household budgets across the country.
The latest poll from Nanos Research found that nearly three out of four Canadians between the ages of 18 and 34 say inflation has become a major problem in their lives.
The survey of more than 1,000 Canadians was conducted between May 2 and May 6 and highlights growing economic anxiety among younger adults struggling with affordability and employment challenges.
Young Adults Hit Hardest
According to the poll:
- About 75 per cent of Canadians aged 18 to 34 say inflation is significantly affecting them.
- Roughly 26 per cent in that age group say they have cancelled a major purchase because of rising prices.
- Many respondents also reported difficulty affording basic necessities such as groceries and household essentials.
In comparison, Canadians aged 55 and older reported lower levels of financial strain, with approximately 51 per cent saying inflation had affected their purchasing decisions or expressing uncertainty about its impact.
Only about one in five older Canadians surveyed said they were struggling to afford essentials or had postponed major purchases due to inflation.
Youth Unemployment Adding to Financial Stress
Economists say inflation pressures are being compounded by a challenging labour market for younger Canadians.
Brendon Bernard described Canada’s economy as operating on a “two-track labour market,” where stable workers are managing relatively well while younger job seekers face increasing difficulty finding employment.
“Youth are finding it tougher to break into the labour market or land new roles,” Bernard said in comments discussing the survey findings.
Economic uncertainty and rising living costs are making it increasingly difficult for younger Canadians to establish financial stability, especially in expensive urban centres.
Inflation Continues to Influence Purchasing Decisions
Across all age groups nationwide, approximately 56 per cent of Canadians said inflation is affecting their everyday spending choices.
The survey found regional differences as well:
- British Columbia recorded the highest level of concern, with roughly 68 per cent saying inflation has become a major issue.
- Quebec reported the lowest level of concern, at approximately 51 per cent.
Rising Food and Energy Prices Remain Key Drivers
Inflation in Canada continues to be heavily influenced by increasing grocery costs, higher energy prices and broader affordability challenges.
Economists warn that while inflation rates may fluctuate month to month, many Canadians are still feeling long-term pressure from elevated housing costs, debt payments and everyday expenses.
For younger Canadians already facing high rents, student debt and uncertain employment prospects, the survey suggests inflation is becoming not just an economic issue, but a major quality-of-life concern.