More than two in five Canadians are struggling to afford basic necessities, with the younger population being challenged the most, a Nanos-Bloomberg poll revealed on Wednesday
TORONTO (Pakistan Point News / Sputnik - 30th March, 2022) More than two in five Canadians are struggling to afford basic necessities, with the younger population being challenged the most, a Nanos-Bloomberg poll revealed on Wednesday.
Canadian Prime Minister Justin Trudeau on Tuesday warned of an impending "difficult time," including food and energy shortages, amid the inflationary crisis with the inflation rate having risen to 5.7 percent in February - the highest increase since August of 1991.
"One in five, respectively, say it's become difficult to afford basic necessities (21%) or it has become difficult to afford basic necessities and they've had to cancel a major purchase because of increasing prices (20%)," a report on the poll said.
Canadians aged between 18 and 34 are being hit the hardest, according to the poll, with more than a quarter saying they are struggling to afford basic necessities and an additional 25.4 percent indicating they have had to cancel major purchases as well as struggling to make ends meet, the report said.
Approximately 60% of Canadians say they are not confident that inflation levels will return to normal, with the younger demographic being the least hopeful, the report added.
According to the state statistics agency, prices at the pump were up 32.3% in February, while food prices are up more than 7%, with meat and dairy products seeing the sharpest spikes.
Critics have blamed the Trudeau government for pursuing a monetary policy that has been driving Canadians into severe financial hardship. However, Prime Minister Justin Trudeau has claimed the COVID-19 pandemic and Russia's special military operation in Ukraine are responsible for Canada's economic crisis.
Russian President Vladimir Putin has previously dismissed similar accusations, including by US President Joe Biden, saying Russia's campaign to demilitarize and de-Nazify Ukraine has nothing to do with rising soaring prices in the United States.
