The prices for cheese, butter, milk, ice cream, and other goods, are expected to see new increases in the new year.
Canadians To See Historic Rise in Price
The new price for products like milk and butter are expected to take effect early next year and this means that Canadians might see the price of milk go up as much as 10% and other items like cheese, yogurt, and butter, they might see a 15% rise or more.
Inflation is hitting Canadians hard as there are estimated to be about 1 in 8 households that struggle with food insecurity around the country, as things get more expensive this creates more of a struggle for people in the country to get by and afford what they need.
Food banks in Canada are expecting to see a rise in demand as a result of that growing pressure on the cost of living in Canada. Inflation is getting worse in Canada and that inflation is making the cost of living more expensive in a country that already has several cities which are regarded as being among the most expensive areas to live in North America, and around the world.
As a result of that inflation in Canada there are some Canadian families who are already seeing hundreds of dollars being added to their grocery bills. Prices are going up for ice cream, cheese, dairy, yogurt, meat, and other goods.
From couponing to buying in bulk or looking for sales, there are tactics which Canadians are already using to try and save money and tackle that inflation and rising cost of living.
Rising Cost of Living in Canada
As the cost of living in Vancouver and around Canada increases this makes things less affordable for millions who were already struggling to begin with. With the recent election we saw that affordability was a top issue for Canadians, this is because the cost of living is increasing and families and individuals want to know what is going to be done to fix the problem of housing affordability, food insecurity, and more. Inflation hasn’t been this bad in almost 20 years.
For those Canadians who are low income and on fixed incomes they are already feeling the changes in price at the grocery store, seeing the cost add up to higher grocery bills and those new price increases for next year haven’t kicked in yet which are expected to come on a number of goods.
This inflation in Canada hurts Canadians and makes it harder for millions to afford what they need. Finance experts have previously indicated that they are aware of their responsibility to address this issue on inflation that many Canadians are worried about.
As well, due to the pressure of the increasing cost of living for Canadians there are also suggestions that have been made for the overhaul of the social safety net that is available currently to address those needs for people around the country.