Canadians continue to struggle financially due to higher costs: RBC poll

A new report says nearly half of Canadians polled say they can't maintain their standard of living due to rising costs.

The survey done for RBC found 48% of those asked say they can no longer maintain their standard of living, while 48% also say they believe they won't ever be able to get ahead financially.

While inflation has returned to the Bank of Canada's target of 2%, the RBC report found Canadians are continuing to struggle financially.

The poll found that 50% of those asked say they are spending all of their income on essential bills and expenses, while 47% say they have dipped into their emergency fund or retirement savings to help cope with rising costs.

It says 60% of those polled are worried they don't have enough money to cover unexpected expenses.

The online poll commissioned by RBC included 1,515 Canadians questioned between Nov. 1 and Nov. 5, 2024.

The poll does not include a margin of error because online surveys are not considered truly random samples.