With inflation through the roof, one-in-five Canadians now report that they’re at least ‘somewhat likely’ to rely on food banks in order to feed themselves.
“As a result of rising prices, 20% of Canadians reported that their households are very (7%) or somewhat (13%) likely to obtain food or meals from community organizations, such as food banks, community centres, faith-based organizations, school programs or community gardens, over the next six months,” reads a Statistics Canada report.
Moreover, Statistics Canada reports that nearly three-in-four Canadians said that rising prices affect their ability to pay daily expenses such as transportation, housing, food, and clothing.
The report also shows that economic food worries are felt mainly by younger individuals and those living in urban areas. Further, it says that Canadians are digging into whatever savings they have and borrowing money from friends and family.
Moreover, the rising costs of everything are causing people to adapt their lifestyles so they can pay rent and put food on their plates.
As previously reported by The Counter Signal, Canadians paid nearly 10 per cent more (9.7 per cent) for groceries in April 2022 compared with April 2021. This price increase exceeded the 5 per cent inflation rate for the fifth month in a row and was the “highest increase since September 1981.”
Much of this cost undoubtedly comes from the Trudeau government’s reckless printing of money over his years in office — both before and after the pandemic.
In fact, the Bank of Canada just released a report addressing the economy’s dismal state, saying that mortgage rates could skyrocket by 45 per cent in the next three years.
However, regardless of finger-pointing, tough times appear ahead for many Canadians.