There may be a greater need to keep an eye on some clients, as increasing numbers of Canadians report that rising prices are greatly impacting their ability to meet day-to-day expenses.  

In spring 2024, 45 per cent of Canadians surveyed by Statistics Canada reported this difficulty, a 12 per cent jump over the 33 per cent who said the same thing two years ago. Those with disabilities are even more likely to report difficulties – 57 per cent of persons with a disability reported that rising prices were greatly affecting their ability to meet day-to-day expenses.  

Housing affordability 

Based on the Quality of Life Framework for Canada, a set of 84 indicators used to measure the overall well-being of Canadians, the Statistics Canada report, Nearly half of Canadians report that rising prices are greatly impacting their ability to meet day-to-day expenses, states that housing affordability concerns are on the rise, alongside financial-related stress.  

“When asked about financial-related stress in spring 2024, more than one third (35 per cent) of Canadians described most days as quite a bit or extremely stressful due to financial issues,” they write. This is up from 33 per cent of those surveyed who said the same thing two years ago.  

More Canadians, notably including those in higher income quintiles, expect to make use of community organizations for food in the coming months. Younger adults and households with children are also more likely to report having financial difficulties.  

Rising prices 

“In spring 2024, over half (55 per cent) of households with children reported that rising prices were greatly affecting their ability to meet day-to-day expenses, which was higher than among multiple person households without children (42 per cent) and lone-occupant households (37 per cent),” they write.  

The Quality of Life Framework further indicates that Canadians are expected to have 69.7 years of life in good health, a decline of 0.7 years when the 2015 to 2017 period is compared to the period between 2010 and 2012. Self-rated mental health figures show 47.9 per cent reporting themselves in good or excellent mental health.  

Median after tax income for economic families and persons not in an economic family in 2022 declined $2,500 when compared to 2021 figures, dropping to $70,500. Poverty rose 2.5 per cent to 9.9 per cent between 2021 and 2022.