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Or sign-in if you have an account.Many Canadians still intend to enjoy the summer months to their full potential, with 62 per cent saying they won’t let economic concerns stop them from enjoying the summer. Photo by Derek Ruttan/Postmedia NetworkSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorCanadians are taking a more budget-savvy approach this summer as the high cost of living has them looking to keep their spending in check.Nearly 80 per cent are changing their summer spending plans due to the rising cost of everyday expenses, while 46 per cent are reducing daily spending to lessen the impact of economic challenges, according to a new survey by Canadian Imperial Bank of Commerce.The cutbacks follow a Toronto-Dominion Bank survey last month that said 35 per cent of Canadians intend to spend less this summer, with 62 per cent saying they are redirecting the money to the essentials such as food and housing.Breaking business news, incisive views, must-reads and market signals. 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Please try againCanada’s inflation rate spiked to 3.2 per cent in May, largely on the back of gas prices, which climbed 33.2 per cent year over year, but food prices were also up 4.3 per cent, while airfare and travel were up 7.4 per cent.Although gas prices have been falling over the past few weeks with the gradual reopening of the Strait of Hormuz, Friday’s average remained 160.5 cents per litre, according to the Canadian Automobile Association.“What stands out in this year’s findings is the combination of caution and resilience,” Carissa Lucreziano, vice-president of financial planning and advice at CIBC, said in a release. “Canadians are adapting, prioritizing what matters most to them and looking for ways to enjoy the season without losing sight of their longer-term financial goals.”The good news? Many Canadians still intend to enjoy the summer months to their full potential, with 62 per cent saying they won’t let economic concerns stop them from enjoying the summer.“Summer doesn’t have to mean overspending,” Lucreziano said. “Canadians are proving that with thoughtful planning, it’s possible to balance fun and financial responsibility.” Sign up here to get Posthaste delivered straight to your inbox.Economists have cut Canada’s economic outlook for the remainder of the year after a surprise slump to begin 2026.A Bloomberg survey revealed that economists now believe Canada’s economy will expand by just 0.7 per cent for the year, which would be the weakest yearly pace since 2015, excluding the COVID-19 pandemic.Previous forecasts predicted growth of about 1.2 per cent.Canada’s economy shrank by 0.1 per cent in the first quarter, far below expectations.Earnings: Gold Reserve Ltd.For those interested in purchasing property with an ex-partner, it’s important to have a clear co-ownership agreement in place to avoid conflicts. The agreement should include expectations when it comes to maintenance, use, expenses and provisions in the event of a sale. Read more here. Interested in energy? The subscriber-only FP West: Energy Insider newsletter brings you exclusive reporting and in-depth analysis on one of the country’s most important sectors.Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@postmedia.com with your contact info and the gist of your problem and we’ll find some experts to help you out while writing a Family Finance story about it (we’ll keep your name out of it, of course).Want to learn more about mortgages? Mortgage strategist Robert McLister’s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his mortgage rate page for Canada’s lowest national mortgage rates, updated daily.Visit the Financial Post’s YouTube channel for interviews with Canada’s leading experts in business, economics, housing, the energy sector and more.Today’s Posthaste was written by Ben Cousins with additional reporting from Financial Post staff and Bloomberg.Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@postmedia.com.Bookmark our website and support our journalism: Don’t miss the business news you need to know — add financialpost.com to your bookmarks and sign up for our newsletters here Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.