64% of Canadians feel negative or somewhat negative effects on their spending due to higher interest rates.
Unexpected rate increase to 4.75% may have contributed to Canadians' concerns after a series of previous rate hikes.
Rising interest rates are causing consumers, especially younger age groups, to defer major purchases, says Nik Nanos, founder of Nanos Research Group.
The survey highlights that younger Canadians are disproportionately affected by rate hikes, with 76% of those aged 18 to 34 citing negative impacts from inflation.
The Nanos survey interviewed 1,096 Canadians online and by telephone between May 31 and June 3, with a margin of error of 3 percentage points.
The survey findings indicate that Canadians, particularly younger age groups, are feeling the effects of higher rates on their spending habits, reflecting the ongoing impact of interest rate changes on the economy.