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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