Inflation isolation: Rising costs taking toll on Canadians' mental health, poll finds

In the wake of high inflation, Canadians find themselves facing a twofold dilemma — one that not only burdens their wallets but also takes a toll on their mental health, according to a recent Ipsos poll.

The poll, released Monday and commissioned by MNP Ltd., found that higher costs and interest rates are causing “inflation isolation,” as 51 per cent of respondents said they are staying home more to save money. A third of respondents said they are spending less time socializing or hanging out with friends in order to cut costs.

“Canadians are feeling mental anguish with rising inflation and interest rates,” said Grant Bazian, president of MNP Ltd. “People are scared of spending money and as a result, they’re staying at home and not doing things they normally would and feeling isolated."

According to the poll, one in five respondents reported feeling a sense of social isolation or loneliness as a result of higher interest rates and inflation, while two in five respondents said the current economic conditions have led to increased stress and anxiety.

Global’s Joe Scarpelli has the details.

For more info, please go to https://globalnews.ca/news/10112952/inflation-isolation-canada-poll

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