OTTAWA — Inflation has eroded purchasing power for many Canadians, but the experience with rapidly rising prices has been far from uniform.
While the inflation rate shows how quickly prices are rising, other factors like income and consumption patterns can make it harder or easier for people to cope.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
But some have seen their wages go up more than others, making it easier for those who have received a raise to cope with the rising cost of living. Tombe said families with children have been particularly affected by inflation because a larger share of their budgets go toward food and fuel, two categories that have seen sharp increases in prices. According to his calculations based on October 2022, a family with children spent on average about $65 more per month than one without children.Article content
During the third quarter of 2022, for example, households in the bottom 20 per cent of income earners spent about $7,400 more than they earned. In the third quarter of 2021, that figure was $6,550.Article content
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Furey calls Ottawa’s offer of $46 billion in new health spending good for Canadians
Read more »
How much Canadians have fallen behind amid high inflation and who's hurting the mostnflation has eroded purchasing power for many Canadians, but the experience with rapidly rising prices has been far from uniform.
Read more »
How much Canadians have fallen behind amid high inflation and who's hurting the mostInflation has eroded purchasing power for many Canadians, but the experience with rapidly rising prices has been far from uniform.
Read more »
How much Canadians have fallen behind amid high inflation and who's hurting the mostOTTAWA — Inflation has eroded purchasing power for many Canadians, but the experience with rapidly rising prices has been far from uniform.
Read more »
How much Canadians have fallen behind amid high inflation and who’s hurting the mostOTTAWA — Inflation has eroded purchasing power for many Canadians, but the experience with rapidly rising prices has been far from uniform. While the i
Read more »
HIGH INFLATION: How much Canadians have fallen behind and who's hurting mostInflation has eroded purchasing power for many Canadians, but the experience with rapidly rising prices has been far from uniform.
Read more »