Expect costs to rise even more.
Stats Canada says that inflation will continue to rise, even though it’s currently at a new 18 year high 4.7 percent as of last month. The last time inflation was this high it was February 2003.
The increase is caused by many factors, including the rising costs of gas and transportation. Pump prices have jumped by 41.7 per cent since last October, with no reprieve in sight.
You’ll have noticed an increase in your grocery bill as the cost of food is also going up because of climate/harvest factors as well as associated transportation costs. Meat prices have gone up by close to 10 per cent and some dairy items will rise by 12 per cent.
To add to it, many industries have seen labour shortages which means less product is being produced/harvested.
