Loading ...Middle-class Canadian families hit hard by inflation, struggle to pay for basic needs
Many people have resorted to borrowing money to pay their bills.
Middle-class Canadians, which is largely made up of young and older families with children, are being hit the hardest by the rapid spread of inflation, with no end in sight to rising costs.
While peoples’ earnings rose about 4.2 percent from last year, costs for basic goods shot up by large percentages. For example, the cost of owning a car shot up 13.4 percent, and food prices overall have gone up a staggering 14.8 percent. More troubling, mortgage costs have risen 18 percent, thanks to interest rates skyrocketing.
Much misery ahead. I dread it!
Agreed!