An Analysis by Don Pittis – Business – CBC News
This week, new figures from Statistics Canada show annual inflation hit 2.4 per cent. That’s up from 2.3 per cent last month, the ninth month in a row of a rising inflation rate. And while the things you buy are more than two per cent dearer (three per cent if you live in Ontario) than they were a year ago, wages have not been keeping pace.
- Over the same period, StatsCan data shows that Canadian wages rose only 1.9 per cent. In Ontario, where prices were up three per cent, wages rose a mere 0.7 per cent. That means if you live in Ontario and spend what you earn, you are effectively 2.3 per cent poorer than you were only one year ago.
- Current inflation is killing off the Canadian middle class: Don Pittis – Business – CBC News.