Groceries are getting pricier, rents are soaring, and wallets are tightening. As Canada moves into a high-stakes election year, one issue dominates above all: the rising cost of living.
Canadians Rank Affordability as Their #1 Concern for 2025
With a federal election looming, Canadians are making one thing crystal clear — they’re voting with their bank accounts. A new Ipsos poll reveals that inflation and the cost of living have emerged as the top priority for voters across the country, eclipsing even long-standing concerns like health care.
One in four Canadians say the high cost of day-to-day life is their primary issue, a five-point jump from last year. Meanwhile, health care comes in second at 17%, with housing affordability not far behind at 14%.
Pocketbook Pain Persists Despite Economic Cooling
Although inflation has eased and interest rates are trending down, the financial wounds from previous hikes haven’t healed. “The scars of inflation are still there,” says Sean Simpson of Ipsos Global Affairs. He notes that for many Canadians, especially younger voters, essentials like groceries and housing remain financially out of reach.
And despite policy attempts to tame the crisis — such as the Bank of Canada’s rate cuts — many voters say they’re still feeling squeezed. Rising food prices, lack of affordable rentals, and stagnant wages are leaving Canadians anxious about their economic future.
Young Canadians Hit Hardest
Younger demographics appear especially vulnerable. Many in Gen Z and millennials are locked out of the housing market, burdened by student loans, and dealing with job market uncertainty. That’s reflected in their political frustrations: while older voters still prioritize healthcare, younger Canadians are laser-focused on affordability and economic survival.
Simpson says affordability has overtaken even deeply ingrained concerns like emergency room wait times and healthcare quality, a shift rarely seen in Canadian polling.
Pierre Poilievre Seen as Most Capable on Cost of Living
When asked who they trust to address these economic challenges, voters are leaning heavily toward Conservative Leader Pierre Poilievre. According to the same Ipsos data, Poilievre tops the list when it comes to handling inflation, taxes, the economy, housing, and immigration policy.
Meanwhile, NDP Leader Jagmeet Singh ranks highest for healthcare and reducing social inequality. The Green Party’s Elizabeth May leads on climate change. Prime Minister Justin Trudeau and Bloc Québécois Leader Yves-François Blanchet trail far behind on all major voter priorities.
Liberals Falling Out of Favour
The poll results come at the tail end of a turbulent year for the Liberal government. Finance Minister Chrystia Freeland’s resignation and the breakdown of the supply-and-confidence deal with the NDP have left the Trudeau government on shaky ground.
With speculation growing around a potential spring election, many voters feel the government is out of touch with everyday struggles. Trudeau’s focus on climate policy and social programs, once rallying points, now appear out of step with the “kitchen table” concerns dominating headlines.
Climate and Immigration Drop in Priority
Climate change — a defining issue in the 2019 election — has now dropped out of the top voter concerns. So has reconciliation and other progressive causes. Meanwhile, immigration has jumped to the fourth most pressing issue for Canadians, driven by its impact on housing and services.
“There’s been a shift — not necessarily to the right — but toward economic self-preservation,” says Simpson. “Canadians want leaders who can deliver long-term affordability, not short-term gimmicks.”
The Political Battlefield of 2025
Poilievre has cast the 2025 election as a referendum on the Liberal carbon tax and broader economic management. With affordability front and centre, Canadians appear more focused on who can deliver tangible relief rather than ideological promises.
Even as the Liberals roll out temporary measures like GST holidays, voters are demanding comprehensive, lasting solutions. The polling is clear: any party that hopes to win in 2025 must first win the battle for Canadians’ wallets.
