Living on the Edge: Inflation & Affordability

Living on the Edge: Inflation & Affordability

It’s undeniable. The cost of living is going up.

The Bank of Canada and Statistics Canada report inflation is at an 18-year-high. 

Food prices are on the rise. Meat costs 52% more, vegetables are up 11%, and fruits are 9% more expensive across the country. 

Housing prices are out of reach for a growing number of Canadians. The average house price in the Toronto area is $1.3M. The average rent for a one-bedroom apartment in Vancouver is $2,100. 

And it’s not just the big cities. Hamilton was recently ranked the top-5 most expensive place to live in North America.

Gas prices are up from 0.98/L last October to an average of 1.46/L. And those high fuel costs will impact home heating this winter too.

Where can we find hope in this crisis? 

This week on Context, we speak with organizations making a real difference in the lives of people living on the edge of poverty – hit hard by inflation and lack of affordability.

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