B.C. households cutting back on groceries and essentials as cost-of-living crisis worsens: new survey

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LANGLEY, B.C., June 23, 2026 (GLOBE NEWSWIRE) — A new province-wide survey commissioned by Tru Cooperative Bank reveals that nearly half of British Columbians are cutting back on groceries and other essential household spending as affordability pressures intensify, underscoring the need for stronger action to address cost-of-living challenges across the province.

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Survey findings point to significant financial strain among British Columbians, with many people moving beyond trimming discretionary expenses to reduce spending on everyday necessities. The survey found that:

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“What stands out in these findings is that people are no longer just trimming extras. They’re cutting back on necessities like food and basic household needs,” says Launi Skinner, CEO of Tru Cooperative Bank. “That’s a meaningful shift and signals that the cost-of-living crisis is becoming more serious for a larger number of households across British Columbia.”

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The survey also points to a deteriorating financial outlook for many households. Four in ten (39%) BC residents say their financial situation has worsened over the past six months, while nearly half (48%) indicate they are saving less or no longer able to save at all in the current environment.

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This combination of reduced savings and rising costs signals growing financial vulnerability and weakness in the British Columbian economy. Survey findings also suggest that financial pressures are linked to weak economic outlook, with 54% believing now is a bad time to find a job, compared to just 14% who see it as a good time.

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The results highlight a growing expectation that meaningful action is needed to address affordability pressures and support financial resilience across the province. Half of residents (51%) think that the federal government, the BC government and financial institutions should collectively lead in solving the financial pressures facing consumers.

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“These findings should serve as a clear signal that more needs to be done to address affordability challenges in British Columbia,” said Skinner. “When people are cutting back on essentials and saving less, it points to deeper structural pressures. We need to see a stronger, more coordinated response that helps restore financial stability and confidence for British Columbians.”

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Tru Cooperative Bank commissioned the survey to better understand the evolving financial realities facing its members and British Columbians more broadly.

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“As a cooperative bank, we believe our responsibility goes beyond providing financial services,” says Skinner. “It includes listening to what people are experiencing and advocating for practical solutions that help improve financial well-being in the communities we serve.”