Most Manitobans feeling good about financial situation as inflation rises: poll

Manitoba's inflation rate rose to 4.6 per cent in May, higher than the national rate.

As the province’s inflation rate continues to climb, a new poll found most Manitobans feel positive about their personal financial outlook.

On Monday, the Angus Reid Institute released a poll focused on financial security and the top issues affecting finances around the country.

According to the numbers, 76 per cent of Manitobans feel good or very good about their current household finances. This puts Manitoba in the top three provinces, along with Quebec and Newfoundland, feeling most positive about money matters.

The poll also found that 36 per cent of Manitobans think the province is doing a good job when it comes to the economy, while 52 per cent say it’s doing a poor job. Twelve per cent of respondents said they weren’t sure whether the government has done a good job on this issue.

When looking at the whole country, 70 per cent of Canadians are feeling upbeat about their household finances, while 38 per cent say their finances are worse now than they were a year ago.

As for the main financial issues plaguing Canadians, 61 per cent of respondents cited cost of living/inflation as the biggest problem, followed by health care, housing affordability and the economy.

Rising inflation

While Angus Reid sheds light on cost-of-living concerns, Statistics Canada is reporting a climb in Manitoba’s inflation rate.

According to Statistics Canada’s latest consumer price data, Manitoba’s annual inflation rate jumped to 4.6 per cent in May, which is up from 4.3 per cent in April. This is well above the national average, which rose to 3.2 per cent last month.

The government agency attributed this climb to gas prices, which rose 33.2 per cent year-over-year in May due to the conflict in the Middle East and the closure of the Strait of Hormuz.

Statistics Canada noted that last month saw drivers pay the highest gas prices since June 2022 when Russia’s invasion of Ukraine created supply uncertainty.

The Statistics Canada report and Angus Reid poll are both available online.

Poll methodology

The online Angus Reid poll was conducted from June 4 to 10 among a randomized sample of 4,237 Canadians. The sample was weighted to be representative of adults across the country based on region, gender, age, income, and education.

A probability sample of this size carries a margin of error of plus-minus two percentage points, 19 times out of 20. The survey was self-commissioned and paid for by the Angus Reid Institute.