Given the detrimental effects of inflation, the holiday season isn’t quite as jolly this year.

The Angus Reid Institute, a national not-for-profit public opinion research organization, released a report this morning indicating that inflation is not only curbing Christmas spending but also reducing the amounts being donated to charities.

When it comes to personal finances, 50 per cent of those polled indicated they are worse off now than at this time last year.

To read the story from the Angus Reid Institute, click HERE.