Canada’s annual inflation rate skyrocketed to 7.7 per cent in May, the highest level in nearly 40 years.
That new high was fuelled by soaring gas and food prices, according to Statistics Canada.
The rising cost of living is no longer a fact of life or mild annoyance, but a source of financial anxiety.
There’s no escaping it, according to personal financial advisor Rubina Ahmed-Haq. “Housing prices are out of control, car prices are out of control, grocery prices are ticking higher,” says Ahmed-Haq.
According to a new Ipsos poll done exclusively for Global News, 85 per cent of respondents are stressed their income won’t keep up with inflation. Global’s Anne Gaviola has more.
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Keep voting Trudeau, that will fix the problem.
The government doesn't care about the 85%, they only care about the 15 % that support them.
Hmm mortgage bills, car insurance, child support costs, healthcare, gas car, wedding costs, and me don’t have girlfriend and no drivers license
"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens." — John Maynard Keynes
Remember to thank NDP/Liberal coalition for stealing your income and starving your children! The elderley are suffering because they can't get health care or afford their medication!
doing it to have us submit
Who would've thought Ukraine supplies the entire world?
and its all intentional
When trudeau gets back from his latest vacation can someone tally the numbers on his flight and costs incurred when he easily could have skyped? While we are at it , can we follow the money into all Liberal party activities ? If one 12 hour flight cost Canadians $97,000 for a set of bottom rungs, what are the higher ups charging us? Trudeau's been to Europe at least what 5 times since February?
But the scamdemic businesses and investors; corrupt Ukraine kickback war mongers made billions.
Justinflation
100% liberal spending, misspending and ideology are the reason for high inflation. Everyone who voted liberal don’t complain. It’s your fault for voting for these people.
This is what happens when governments lockdown and printed billions while giving away billions.
Under the current red and orange coalition regime, there is presently no end in sight to this destructive economic vortex caused predominantly by 'extend and pretend, optics and politics' pandemic policy responses and mandates, along with the endless printing of f a k e Canadian dollars to make otherwise fraudulent balance sheets look prettier to the untrained eye.
Unsurprisingly, there are still delusional do-gooder pandemic activists out there still calling for more lockdowns, shut-downs, closures, cancellations, masks, free paycheques, and more restrictions.
On top of all this, the nation's current finance minister doesn't actually know all that much about economics, and that's being charitable, while the government house leader has pushed forward a motion proposing that absentee virtual hybrid attendance in parliament be extended for another full year.
Meanwhile, Canadian airports and passport offices are in a perpetual state of operational paralysis, and Canadian household debt levels have reached truly stupefying heights that were previously unthinkable.
In reality, there has likely never before been a time in Canada's history where the nation has been subject to this level of national disgrace, and international embarrassment and humiliation.
So, keep electing dumb governments, keep winning dumb prizes.
Watch and learn.
Great job
The worst will happen after the rapture. "a loaf of bread will cost a days wages", see Revelation 6 !
We are living in the E N D times, the 7year Tribulation with the world leader (Antichrist) is right around the corner, that's GOD'S judgement upon all unbelievers! But there is hope – get saved and be rapture ready: accept JESUS CHRIST as your Lord and Savior today!!!
Please study biblical end times prophecy; listen to Dr. Ron Rhodes on end times chronology.
Blessings from AB
PS: forage for kudzu and other edible plants.
why is everyone black in your cookie cutter clips?
maybe govt can spend some more money to curtail all the govt spending….
Global News = Ignorant Communists!!!
Hasn't been for years, this is nothing new it's just out of control now.
Come on! Everything is under Trudeau's control. He said he will make the house more affordable and inflation is temporary. Politician just promise more unrealistic stuff. Young people has harder time to build new family. I don't blame them to not married, and have kids because life is hard enough for them .
Canada needs to decide if it wants to go down together with European Union or it will act like an independent country it is with its own vision and its own foreign policy approach.
The bank of Canada will stop inflation by raising interest rates again and again.
This will not help millennials that overpaid for their houses.Helps the baby boomers who have no debt and will make more on investments . Baby boomers win again . Sorry millennials and gen z . You are f* cked
Also stop crying… You voted for the liberals
Talk to the guru Trudeau, he has all the answers.
No Bail Out
Everything is always worse under liberals.
If the Bank of Canada:
• Print $5,000,000,000 every week for over 2 years and put them in circulation as stimulus.
• Keep the interest rate at RECORD LOW for TOO LONG.
• Tell the public that inflation will be TRANSITORY.
• Keep telling the public the rates won't rise.
• Create an unprecedented record level of household debt.
• Keep telling the public that the country's banks & financial system are the BEST in the world.
• Create the BIGGEST Assets Bubbles in Commodity, Real Estate, and Stock Market.
• Have the second BIGGEST REAL ESTATE Bubble in the World.
• Keep missing all warning signs of high Inflation.
Then, these are the Direct Consequences of the actions of so-called "Technocrats Elites" at the Bank of Canada that fell asleep at the switch and couldn't see what is coming their way.
They are still NOT ADMITTING to their constant mistakes.
High inflation keeps them up at night. (they are ) Up all night PRINTING more money, that's why
Bank Of Canada is the main cause of this mess for over 2 decades.
The Bank of Canada's board of directors must be replaced by rational independent bankers.
All these so-called technocrats did only PRINT money and kept rates at a RECORD LOW.
They don't have any clue, what is going on around the world, they just make predictions based on WRONG FACTS.
Their Policies are based on biased PRO RICH policies and are NOT independent.
Based on their policies, the Rich get Richer and the Poor get Poorer.
Bank of Canada has wiped out the entire middle class in Canada and has created a small New RICH class in Canada.
Finally, the reality is settling in for them that Economic Armageddon is on the horizon, but they have fear facing the public.
Bank of Canada has ignored the repeated warnings from IMF, World Bank & OECD about rising Home Prices, Inflation & Household Debts in Canada for years, now it faces its faith, the Economic Armageddon.
Now, taking the ENTIRE Country into the drain.
The majority of Canadian voter's choose leaders who are financially irresponsible. You made your bed, now you must lie in it! 🙂
Freeland said we had saved too much money and she wanted us spend it. I guess they'll just erode our savings via inflation.
Exactly! why should people be able to afford what they want , i mean they only work for it
Spending 7.7% less than last year to even it out.
Trudeau and Freeland already fixed this, Trudeau and Blair fixed guns, Trudeau fixed racism, broke it, fixed it again, broke it worse than ever, divided people to cover it up, do net zero.
Trudeau has taught the budget to balance itself using a little umbrella as it crosses the highwire on a miniature bicycle
82% of men vs 88% of women – literally within normal error range, but oh "women have it worse", ok bud. I think it says both are worried about it, we didn't need this stat.
I have won little but lost most in the current market.
Lol they dont care about us, things are crumbling and the "powerful" are just grabbing whatevers left for themselves
Its your doings trudo
Who says income isn't keeping up with inflation ?
Didn't YOU get a 22% raise this year, like Dr. Tim……er…uh….Tam.
This really only affects the "little" people with their "little" problems.
Global must be trying to brain-wash people again……….Cue the "Annie" Theme song.
Sunny Ways, folks.🌞
In North Battleford, Alberta, a nice 2,000 sq. ft. single detached home costs only $100,000 With a $5,000 down payment.
Nice move govt.
When government officials spend 96,000 dollars of tax dollars on inflight expenses for one flight! Taxation is almost as out of control as government spending! No one to blame but our own incompetent corrupt government!
The problem is that stores are ripping people off for NO REASON.
I drive a semi for many years. Let me give you some numbers.
Lets say I deliver one hundred thousand cans of green peas from one warehouse to another. Let say I have to drive 1000 miles for that trip. My truck averages 7 mpg. That means I need about 140 gallons of diesel fuel for that trip.
In 2021 diesel averaged $3.3 a gallon. In 2022 it is about $4.6 a gallon. That means that in 2021 my trip would cost $470. In 2022 it would cost $657. The difference is about $190
Now. I have 100000 of cans in the back of my truck. In order to compensate for increase in fuel(delivery) cost a store needs to increase price of each can by 0.19 of a penny. ONE FIFTH OF A PENNY!!!
But how much does the store increase the price? By 20, 30, sometimes 50 cents.
So there you have it.
7.7% is understated.. My electric bill has gone up 19% in the last 3 months alone.