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Sticker Shock: How inflation impacts Canadians’ housing, retirement and savings plans

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In the Global News series Sticker Shock, Anne Gaviola looks at how inflation has impacted various aspects of Canadians’ lives.

Whether at the grocery store or at the gas pump, inflation is making life more unaffordable and forcing people to find new ways of saving money. In part one of our series, Gaviola offers some tips on how to better navigate life's rising costs.

The series also looks at whether meal kits are the right choice for saving or not as the latest Consumer Price Index (CPI) figures from Statistics Canada on Wednesday show that food inflation is at its highest level in more than 40 years.

For homebuyers, signs that the Canadian housing market might be cooling are coming too late as their ability to save for a home is dampened by inflation and rising interest rates.

The series also breaks down how some might be able to make a home purchase work.

Plus, the common cure for rampant inflation on a household budget is higher earnings, as Canadians and labour groups push employers to hike wages in line with rising costs. But for the recently retired, the soaring cost of living is forcing many to find clever ways to cut costs.

For more info, please go to https://globalnews.ca/news/8869045/home-buying-canada-inflation-prices-sticker-shock/

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Category
U.S. & Canada
Tags
global news, sticker shock, inflation
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