Inflation is cooling. So why are Canadians still so stressed out?

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Two years ago annual inflation was north of eight per cent. These day it’s close to two. But money-related stress is off the charts according to personal finance expert Rubina Ahmed-Haq.

“Many people are now facing layoffs, and cuts to their contracts as companies are not able to keep people on-staff because they are also struggling with higher costs of doing business,” Ahmed-Haq says.

Households’ bottom lines are under pressure from years of soaring inflation, rapidly rising borrowing costs designed to slow spending, plus international factors making life more expensive like rising oil expenses.

Anne Gaviola has more.

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40 COMMENTS

  1. Overall inflation may be slowing, but the things that I spend most of my money on groceries, rent, and utilities are still rising … if more slowly, I'm not seeing it…. and the big kicker is my income is not rising at all to meet even slower inflation … Thank you NDPLIB government for the only thing that does seems to be lowering-my standard of living.

  2. Rent prices have what,,, doubled or tripled in 10 years and then you have to worry about renoviction, something that wasn't an issue 20 years ago, almost 60 now and never seen Canadians so glum

  3. According to oligarchs who don't ever buy groceries or budget, people who do are likely imagining high prices & if anything, are probably also crazy, racist and/or bad for the environment lol. Remember, 'Experts Say' that shutting down western civilization over a flu is 100% unrelated these prices & whole economies can totally be turned on & off like a lightswitch without destroying $ trillions & making everyone poorer.

  4. The perpetual struggle of the Canadian working class. Every month, it's the same story: households struggling to make ends meet, layoffs, and contract cuts. But let's not sugarcoat it, this isn't just a result of "economic circumstances" or "market fluctuations." No, this is a direct consequence of corporate greed and the failures of capitalism. Companies are "struggling with higher costs of doing business"? Please. They're struggling to maintain their profit margins, that's what they're struggling with. They're willing to sacrifice their employees' livelihoods to ensure their shareholders continue to reap the benefits. It's a classic case of putting profits over people. And don't even get me started on the so-called "soaring inflation." Who benefits from inflation? The wealthy, of course. They're the ones who own the assets that increase in value as prices rise. Meanwhile, the working class is left to foot the bill, struggling to afford the basics like housing, food, and healthcare. And what's the response from our government? More of the same neoliberal policies that got us into this mess in the first place. They're "designing" borrowing costs to slow spending, as if the problem is that people are spending too much, rather than that they're not earning enough. It's a classic example of blaming the victim. But let's be real, this is what capitalism is designed to do. It's a system that rewards greed and exploitation, where the pursuit of profit is the only goal that matters. And we're seeing the consequences of that play out in real-time. It's time for a change. It's time for a progressive government that puts people over profits. We need policies that prioritize the well-being of the many over the wealth of the few. We need a system that recognizes the value of workers and rewards them with a living wage, rather than treating them as disposable commodities. So, let's not buy into the myth that this is just an economic downturn. Let's call it what it is: a failure of capitalism, and a result of corporate greed. It's time for a new way of doing things, a way that puts people first.

  5. Inflation in relation to prices dropping isn’t what happens. Just means government spending and money printing have slowed down. Rate and inflation will remain elevated for the forseable future

  6. "Cooling" doesn't mean "lower prices" it means "prices rising less quickly". People are still stressed out because s** is still f**in expensive. What a dumb question.

  7. LMAO…after yakking endlessly about "warming", suddenly the word "cooling" is supposed to con people into believing what about Canada's unaffordability, exactly?
    You folks and your dropout psychology.

  8. You can't make this up. Goebbels said if you say a lie often enough you will soon believe it to be the truth. The inflation rate is much higher than government statistics state. How to lie with statistics.

  9. Why do we even have federal government? Or a provincial government ? That lacks accountability for Canadians citizens they are the problem not us as citizens the governments have a really bad big problem on their hands and the dilemma is they really crapped on most Canadians future’s young and old are now living in a really bad place because of a government policy that really hurt not help we should abolish government in Ottawa and most provinces do they really care about the old people or young adults no they really care about their bottom line they live in a bubble of tone deaf government officials. Canadians pay real high on everything and get less and Less not everybody make 60,000 to 100,000 in Canada and the government in some way feels they dictate what CBC puts on TV Because the CBC doesn’t really go hard on the Canadian government most of the time it shows is it because of government money and producers that have the last say on it not the anchor. Why trust any body in CBC or any body in government to be honest or real do they really have any integrity or the respect? Of Canadians I do not thing so. Just my opinion.

  10. A significant factor is that accomodation in this country is treated as a commodity.
    Of course predatory capitalists will seize upon this cynical "opportunity" ???
    I wonder how many residential properties multi-millionaire has owned?
    No single financial burden is more onerous and profound to the renter's in Canada that the cost of housing.

  11. inflation is cooling simply means cost are going up slower, NOT that they are coming down. It's not rocket science. also the audacity of this video to say we should cut back on vacations or subscriptions? It's not us who don't know how to manage our money. People are surviving out there, not living, all while companies are reporting record profits.

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