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.