Canada sees 31-year high inflation

In April, year-over-year inflation in Canada hit a 31-year high, a 6.8 per cent increase from last April, with food, housing, and gas prices skyrocketing across the country.

According to Statistics Canada, food and shelter prices drove the increase, while gas, which has surpassed $2 per litre across Canada, saw a less dramatic increase than in March.

“Excluding gasoline, the [Consumer Price Index] rose 5.8 per cent year over year in April, after a 5.5% gain in March. This was the fastest pace since the introduction of the all-items excluding gasoline special aggregate in 1999.”

Moreover, as StatsCan reports, 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.

While nearly everything is more expensive, the following basic foods have all seen dramatic increases over the last year: fresh fruit is up 10.0 per cent; fresh vegetables are up 8.2 per cent; meat is up 10.1 per cent; bread is up 12.2 per cent; pasta is up 19.6 per cent; rice is up 7.4 per cent; cereal products are up 13.9%; and a cup of coffee is up 13.7 per cent.

Soaring fuel prices have also had a ripple effect, leading to a 7.4 per cent year over year increase — the “fastest pace since June 1983.” Specifically, higher energy costs for heating homes, such as natural gas (+22.2 per cent) and fuel oil and other fuels (+64.4 per cent), greatly contributed to the increase.

“Reflecting the dynamic Canadian housing market, homeowners’ replacement cost (+13.0%), which is related to the price of new homes, and other owned accommodation expenses (+17.2%), which includes commissions on the sale of real estate, both increased in April,” StatsCan reports.

The price of a home also continues to rise, which has led to 63 per cent of Canadians who do not own a home have giving up on their dream of one day being homeowners, according to an a Ipsos poll.

“As housing prices rise, inflation continues, and interest rates go up… we can see that there’s a bunch of Canadians who have kind of given up on the idea of homeownership,” Gregory Jack, vice-president of public affairs at Ipsos, said in April.

These increases in prices have dramatically impacted Canadians, with a majority now saying they fear they will not be able to feed their families.

As previously reported by The Counter Signal in March, a different Ipsos poll shows that 63 per cent of those aged 18-34 and 67 per cent of those aged 34-55 express concern that they won’t be able or will struggle to feed their families.

Even amongst well-off Canadians who earn six figures or higher, concerns remain high, with 57 per cent saying they, too, worry about feeding their families. As for those earning less than $40,000 per year, 72 per cent say they are concerned.

Share this story

Donate now to keep us on the front lines:

Help Keep your News Free

It's crucial we stay in touch

Big Tech wants to censor us, that’s why you need to stay in touch.

[wpp limit=6 order_by='views']

YOU MIGHT ALSO LIKE THESE...

Trending News

Over the past two years, twenty (20) individuals in Canada have been arrested over ISIS-related charges. 

Mike Campbell

November 18, 2024

Trending News

By the end of this year, about 18,000 foreign students will have claimed they are refugees, given free housing and food from Canadian taxpayers.

Mike Campbell

November 14, 2024

Trending News

AHS tries to vaccinate child at school despite parental refusal

Alexa Posa

November 13, 2024

Trending News

The Conservatives are calling the NDP-Liberal Government liars after learning that military chaplains are prohibited from delivering prayers on Remembrance Day.

Alexa Posa

November 9, 2024

Trending News

Liberals backtrack on immigration after saying it was needed to fix housing crisis. Now they admit it caused the problem.

Mike Campbell

October 24, 2024

Trending News

The development comes two days after it was reported that Trudeau is facing an internal Liberal revolt. Trudeau says now is not the time to focus on that.

Walid Tamtam

October 15, 2024

Want to join the conversation?

Sign up now to be able to like, comment and reply to other members. A full membership to our site includes:

We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you’ve provided to them or that they’ve collected from your use of their services. You consent to our cookies if you continue to use our website.