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This month’s significant number: 69% - DFSIN - SFL

This month’s significant number: 69%

That’s the percentage of Canadians who name the increase in grocery prices as a major source of insecurity, based on the FP Canada 2023 Financial Stress Index.

January 17, 2024

According to a survey commissioned by FP Canada last year, the rising cost of groceries is the top external factor in the financial stress felt by Canadians, ahead of inflation in general (mentioned by 63% of respondents), gas prices (49%), high interest rates (33%) and mortgage rates (22%). Moreover, the percentage of Canadians who say that they are feeling less hopeful about their financial future has risen since last year, from 39% in 2022 to 44% in 2023.  

The survey, carried out by Léger, indicated again this year that good planning is an effective antidote for financial stress: Canadians who deal with a financial planner are more likely than their peers to feel confident about their financial future (59% vs. 46%) and are less likely to lose sleep over financial matters (38% vs. 49%). 

One more reason to check in with your advisor as the new year begins? 


The following sources were used to prepare this article: 

FP Canada, “FP Canada™ 2023 Financial Stress Index.”