How are you cutting costs amid inflation? We want to hear from you

Canadians are likely to be feeling the pinch amid rising prices on groceries, gasoline, clothing and more, amid a higher inflation rate.

With inflation well above the target of two per cent, economists expect the Bank of Canada to raise its key interest rate again in October. In August, the annual inflation rate was 7.0 per cent, down from a high of 8.1 per cent in June.

Meanwhile, one economist is warning Canada should be prepared for a recession in early 2023.

"I don't think that we're in a recession just yet, but I do think that one is on the horizon," David Doyle, the head of economics at Macquarie Group, told BNN Bloomberg. "Our baseline is that Canada will enter a recession in the first quarter of 2023."

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We want to hear from you

What are some of the steps you are taking to lessen the financial strain with a higher inflation rate and a potential recession on the horizon?

Are you cutting costs at the grocery store? Are you commuting more and driving less? Will you abstain from purchasing Halloween candy?

Share your story by emailing us at [e-mail] with your name and location. Your comments may be used in a CTVNews.ca story.

Witth files from BNN Bloomberg and The Canadian Press