More than a third of Canadians are reporting difficulties with shelter, food, and transportation costs, according to new data from Statistics Canada. StatCan_eng | realestate affordability affordablehousing realestatenews Canada
, and new data shows that consumers have been hit hard by the rising cost of food, shelter, and other essential expenses. In fact, the share of consumers reporting difficulties affording necessary expenses has edged up from 19% in the summer of 2021 to 35% at the end of 2022.from the Canadian Social Survey , Statistics Canada’s latest data collection project. Surveys are conducted every three months.
The latest CSS also reveals that “some segments of the population remained more likely to experience a higher degree of financial challenges.”, recent immigrants, people living with children, and those looking for work were anywhere from 42% to 50% more likely to face financial hardship. “It’s not unusual to have some goods experiencing above average inflation, but they’re normally not these major headline figures all happening at the same time,” says Moshe Lander, Senior Economics Lecturer at Concordia University. “I think that, unfortunately, it’s kind of a perfect storm.”“Wages haven’t kept pace with the average increase in prices, and that’s a worry for Canadians,” says Lander.
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