Business UpdateJul 22, 2026, 06:02 AM
TransUnion: 86% of Canadians Rank Inflation as Top Financial Concern
AI Summary
TransUnion's Q2 2026 Canada Consumer Pulse Study reveals that 86% of Canadians rank inflation as a top financial concern, with 51% cutting discretionary spending and 50% feeling their income isn't keeping pace. Despite this, financial optimism has improved, with 45% feeling optimistic about their household finances. Consumers are also becoming more proactive in financial management, with 40% checking their credit reports monthly amid rising fraud threats, while 25% plan to apply for new credit cautiously.
Key Highlights
- 86% of Canadians surveyed rank inflation among their top three household financial concerns.
- 51% of Canadians continue to cut discretionary spending due to affordability pressures.
- 50% of Canadians state their income is not keeping pace with inflation.
- 40% of Canadians surveyed now check their credit report at least monthly.
- 25% of consumers plan to apply for new credit or refinance existing credit over the next year.
- 45% of Canadians express optimism about their household finances over the next 12 months.
- 44% of Canadians were targeted by fraud in the past three months but did not become victims.
Price Impact
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