Rising costs leave Montrealers feeling stretched ahead of Christmas

An Interac survey suggests rising prices are making it harder for many Canadians to manage holiday spending.

With Christmas less than a week away, many Montrealers say rising prices are making holiday shopping more stressful this year.

Shoppers told CTV News they’ve noticed a significant increase in prices compared with last year, leaving them feeling cash-strapped as they try to buy gifts.

Some parents said the cost of gifts for older children has been particularly challenging, noting that many items their teens want now come with hefty price tags.

A new Interac survey suggests those concerns are widespread. Nearly three-quarters of Canadian parents say making the holidays special for their children remains a top priority.

But two-thirds say rising costs are making it harder to manage holiday spending. More than half worry they will spend more than they can afford.

Lauren Mostowyk, Interac’s head of corporate affairs and partnerships, said many Canadians are feeling the economic pinch as everyday expenses continue to climb.

The survey also found grandparents are stepping in to help, with about one-third of respondents saying they are spending more on gifts for their grandchildren. Some shoppers said they don’t mind paying extra to buy nicer items for loved ones.

Others are turning to more budget-friendly options like gift cards. Those working with tighter budgets said they’re simply buying fewer gifts this year.

And for anyone leaving their shopping to the last minute, Interac predicts they won’t be alone. The company expects Friday, Dec. 19, to be the busiest shopping day of the year, with nearly 25 million debit purchases expected across Canada.