The elevated cost of living is weighing on Canadians’ holiday gift shopping plans, new data from BMO’s Real Financial Progress Index revealed. While inflation has slowed in Canada in recent months, Canadians are still paying more for their necessities than they were this time last year. This is why 78 per cent of consumers said they plan on buying fewer gifts this December, according to data from the BMO index that tracks how consumers feel about their personal finances by sampling adults 18 and over in Canada. Forty per cent of survey respondents also said they planned to buy less expensive gifts for friends and family. A little over half of surveyed Canadians reported feeling financial
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