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In 2025, financial concerns in Canada have reached new highs, with eight in ten Canadians reporting at least one major worry. Retirement savings, affording healthy food, and housing costs lead the list—while rising grocery prices, especially for meat, produce, and dairy, reflect growing anxiety about everyday essentials. Our latest survey results also reveal key differences by generation and region, shedding light on how financial stress is shaping Canadian households.
Key Takeaways
- The proportion of Canadians with at least one major financial concern continues to steadily increase, with top concerns being saving for retirement, affording healthy food, and paying for housing.
- Concern about food costs is reflected in widespread perception that meat, fruits, vegetables and dairy products have become more expensive over the last year.
Over the past three years, we have asked Canadians about their current financial concerns, and now, eight in ten residents say they have at least one financial concern, growing six points from three years ago. Consistently, saving for retirement tops the list, with half of Canadians citing this as a concern. This is followed closely by affording healthy food and paying for housing, each mentioned by about four in ten. Fewer report concerns about paying for cellphone and internet services, electricity, and financially supporting a family member. Although less common, one in five still worry about being able to afford their children’s education.
Current Financial Concerns (Aided Mentions)
Across provinces, Quebec residents are slightly more likely to have no financial concerns (28%), while those in the Prairies are more likely to worry about affording their children’s education (26%). Additionally, those in the Prairies and the Atlantic Region are more likely to be concerned about paying for electricity (33% and 38% respectively), compared with those living in other provinces. Across age groups, Boomers (55+) are the most likely to report having no financial concerns (36%). In contrast, all three younger generations (Gen Z, Millennials, and Gen X) are more likely to report multiple distinct financial concerns, with Gen X being most acutely concerned about retirement savings (63%).
Given the prevalence of concerns over the affordability of healthy food, we asked Canadians which grocery store products they have noticed become more expensive compared to a year ago. Meats, along with fruits and vegetables, were the most frequently mentioned items, with eight in ten Canadians noting price increases in each category.
Products More Expensive Than a Year Ago (Aided Mentions)
These were followed by dairy products, noted by seven in ten, and bakery items, noted by just under six in ten. Somewhat fewer reported increases in the cost of gas or fuel for their car, cosmetics and personal care items, or over the counter medications, with just over four in ten to one-half noticing rising prices in these categories. Three in ten Canadians cited other products outside of those listed, while only two percent said no products are more expensive or they are unsure.
Interestingly, considering Boomers are least likely to report financial concerns, they are most likely to report price increases in meat, fruits and vegetables, dairy products, and bakery items. Gen Zer’s (18-24) are more likely to say they have not noticed any products being more expensive this year.
Results are from an online survey conducted in partnership between Narrative Research and the Logit Group. The survey was conducted between July 9th and 10th, 2025 with 1,230 Canadians, 18 years of age or older from the Logit Group’s online Canadian Omnibus. Data were weighted based on the 2021 Census, by gender, age, and region to reflect actual population distribution.
For more information, please contact:
Margaret Chapman, COO & Partner, Narrative Research – 902.493.3834, mchapman@narrativeresearch.ca or Sam Pisani, Managing Partner, Logit Group – 416.629.4116, sam.pisani@logitgroup.com.
Narrative Research is a non-partisan, 100% Canadian-owned research company, certified as a Women Business Enterprise (WBE). Narrative Research provides clients with state-of-the-art research and strategic consulting services.
The Logit Group is a leading North American data collection and market research execution company headquartered in Toronto, conducting large-scale projects for a variety of well-known research agencies and brands. Logit employs industry-best technologies.
