On the Street: What expenses are Okanagan residents cutting back on?

Are you cutting expenses?

Casey Richardson

Grocery bill hike ups, increased utility bills and higher rent prices are just a few of the growing costs causing pain in everyone's wallets.

In its quarterly monetary policy report, the Bank of Canada projected growth in the economy will stall through the first half of the year, while inflation will ease to three per cent by mid-2023.

In light of the rising cost of living due to global inflation, Castanet hit the streets to ask Okanagan residents, what expenses are you cutting back on?

The people we spoke to commented on trying to cut corners everywhere, by watching what they buy, how much they eat out and limiting driving to cut gas spending.

One person said they're focused more on saving, trying to best prepare if things were to get worse.

Last week the province announced the enhanced BC family benefit, which will provide families with moderate to low incomes, more money in the first three months to help combat inflation.

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