MNP Consumer Debt Index; Looking Bleak

Canadians report struggling with the rising cost of living and the consequences of seven interest rate increases throughout 2022.

  • Nearly seven in 10 households (68%, +11 pts) say they’re feeling the effects of higher interest rates,
  • Six in 10 Canadians say they’ll be in financial trouble if rates go up much more (59%, +9pts).
  • At least half of survey respondents say it’s getting harder to pay for everything from food (57%) to housing (45%), transportation (50%), clothing and other necessities (51%).

Read the full report here