Canada's annual inflation rate fell to 2.5 per cent last month marking the slowest increase since March 2021, but a new survey highlights that Albertans are still the most stressed about finances among all Canadians.
Canada's annual inflation rate fell to 2.5 per cent last month marking the slowest increase since March 2021, but a new survey highlights that Albertans are still the most stressed about finances among all Canadians.
“The survey showed also that Albertans were one of the top provinces that said they don't work with a financial professional, and quite often there is a direct link to financial stress, having unanswered questions, not feeling in control, or not having clarity of your financial future.”The information you need to know, sent directly to you: Download the CTV News App
“Because really, when it comes to financial stress, a lot of it originates from not having a clear vision and plan and path on how to move forward, and it creates that anxiety and depression and other things when you have unclear and unresolved issues.”Despite rising stress for Albertans, there is some good news on the horizon, according to ATB Financial Chief Economist Mark Parsons.
"So overall, energy costs were down in the last month, year-over-year, but yes, definitely, gas prices are a little bit higher.,” Parsons said. Sims added that Alberta Premier Danielle Smith’s suspension of its fuel tax previously had consumers saving 13 cents per litre which is roughly $15 or so per fill-up for the average pick-up truck.“So all told, when you combine the federal taxes and the provincial fuel taxes, we are paying more than 48 cents per litre, broken down, that's more than $30 every time you fill up a family minivan, and that's more than $50 every time you fill up a light duty pickup truck,” Sims said.
Agri-Food Innovation Chair with the University of Saskatchewan Stuart Smyth notes that no particular items are seeing significant spikes and inflation is evenly distributed this time around, but there’s huge supply chain concerns on the horizon. “There’s a fairly high flow-through rate or turnover of those products so if you haven't got much cereal and suddenly the containers are no longer moving on rail, grocery stores may start to run out of some of those products, certainly within the next 30 to 45 days.”Partial system outage impacts airports in Canada
An Okanagan man who used a skid-steer loader to destroy the possessions of a homeless couple, knocking one of them unconscious as he ran over their belongings, will not face jail time for the assault.Homicide investigators say a 24-year-old man has been charged with second-degree murder in the stabbing death of a Surrey, B.C., man last month.
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