New Research: The Financial Impacts of Canadian Inflation

Toronto, Feb. 01, 2024 (GLOBE NEWSWIRE) -- LARi Insight Inc. has released new market research and analysis exploring how rising inflation is impacting the financial well-being of Canadians. Based on a survey of over 1,200 Canadians, the Inflation in Canada resource center analyzes sweeping changes brought on by inflation. Notably: 

• Over 70% of Canadians are extremely concerned or somewhat concerned about rising inflation, and 27% are extremely concerned about their future financial security
• "groceries" is by far the most impactful area of inflation for most Canadians
• Just 24.7% of Canadians feel their income is completely or mostly keeping pace with inflation
• 12.5% of respondents are delaying retirement due to inflation
• 40.8% of respondents believe that buying housing or real estate is now less appealing

The analysis goes well beyond these data points, exploring impacts on insurance, investments, debt levels, emergency savings, and confidence in Canada's financial products. "When you step back from a day-to-day view of rising inflation in Canada, you see the sweeping impact that rapidly rising inflation has on the financial lives of Canadians," says Dan Skeen, President of LARi Insight. "We see profound changes in quality of life, and retirement options, that will be with us for many years to come." 

The LARi Insight team has woven research-based insights on inflation in Canada into a rich collection of media and interactive content, including long-form analysis of rising food prices, consumer spending, real estate, insurance coverage, investment strategies, long-term financial goals, debt management, income and salaries, and emergency savings. Videos and infographics visually enhance the story, and interactive calculators such as the Food Price Inflation Calculator and the Salary vs Inflation calculator add interactivity. All content is accessible through the Inflation in Canada overview.

About LARi Insight Inc.

Incorporated in March, 2021, LARi brings a new approach to one of Canada's oldest industries: financial services. The LARi team develops fact-based storytelling, delivered through multi-format content assets, to create engaging and informative content. LARi services Canadian financial services clients by providing proprietary market research, content strategy, and content creation. To explore LARi Insight's original research, analysis, tools and content, visit www.lari.ca.