The affordability crisis besides overall inflation continues to impact Canadians across the country. A new national survey from Narrative Research reflected 76% as the cost of food & groceries. This increase has had the largest impact on their household finances.
47% said that gas is also a significant financial pressure. This was followed by mortgage besides rent at 33%.
Electricity, household maintenance & repairs, home heating have also caused high levels of financial anxiety for Canadians.
Narrative Research, chief operating officer, Margret Chapman said that the magnitude of the impact of the cost of living on those daily pressures of groceries & gas is really quite startling.
66-year old Stephen Hills, is retired. Hills lives on a military pension. He’s unable to believe how much he must pay for food at the grocery store.
Hills expressed that the situation is becoming unmanageable. This situation is especially for seniors on a fixed income.
It’s also a tough financial scenario for Hannah Giffin who moves with 2 young children. Filling her grocery card with food for her family becomes a costly process.
Giffin added that every time she visits the store, the prices appear to be higher.
On the brighter side, some food items have decreased in prices over the last month. However, pork, salmon as well as apples still tend to be expensive besides have increased in costs.
The Dalhouse University professor & food researcher, Sylvain Charlebois said that the food inflation rate’s 3.9%. it’s the highest amongst G7 countries. He added that things are slow & slowing down. Also that Canada is witnessing fewer pressure points as we speak right now.
Giffin has witnessed affordability issues compel some young people to make difficulty lifestyle decisions.
Many people have to make choices, Giffin added. Even if they wanted to have children, they aren’t able to have children as they haven’t bought of their own house. Furthermore they haven’t yet finished paying off their student loans.
