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Cost of living set to increase as pace of inflation sees highest jump in a decade

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The cost of living was tame in 2020, but it’s back with a vengeance this year.

Higher gas prices because of increased demand are a culprit, so are global supply chain issues.

Canada’s annual inflation rate surged to 3.7 per cent in July, levels we haven’t seen since 2011.

The price of inflation has been above three per cent for four months in a row, more than the Bank of Canada’s target of two per cent.

And your grocery bill is likely giving you sticker-shock. But experts say there’s more food inflation to come.

“When we ask about affordability, the NDP seems to do better than any other party on that issue,” says Ipsos polling CEO Darrell Bricker.

Ipsos polling including food inflation ranks among Canadians top election

issues particularly among millennial and generation-Z voters, who now make up 40 per cent of the population and who were instrumental with getting Justin Trudeau elected in the past.

Anne Gaviola reports.

For more info, please go to https://globalnews.ca/news/8122246/otoole-trudeau-singh-inflation-canada-election-campaign/

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Category
U.S. & Canada
Tags
global news, Canada cost of living set to increase, High gas prices
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