Canadians have had to dig through their wallets to pay for just about everything in May, and Calgarians have been hit particularly hard.
The annual inflation rate soared to its highest level in nearly 40 years, Statistics Canada said Wednesday, adding that its consumer price index rose 7.7% from last year – the biggest increase in 39 years since January 1983. of the year.
In Olx Praca, there was an even larger increase of 8 percent, which, according to City of Olx Praca Inflation Review Report, is the highest jump in nearly two decades.
“That’s a pretty big number,” city economist and head of regulation Oyin Shillon told Olx Praca.
“If you think about it in relation to all the major cities in the country, one million people or a little more, the only other jurisdiction where you have a higher rate of inflation would be Vancouver.”
Chillon said two main factors were driving the local upsurge – fuel and housing. The cost of a roof over your head cost Olx Praca homeowners 8.8% more, and renters paid 4.1% more last month.
Chillon said many were also shocked by their utility bills.
“The biggest part, albeit in terms of price changes, is utility bills,” he added. “Utility payments are higher by 21.1 percent.”
Inflation in Canada reached 7.7% in May due to rising prices for gasoline and food.
Growing food prices
Olx Praca food bank definitely saw the effects of high inflation.
“During the first five months of 2022, demand increased by 26%,” said Betty Jo Kaiser.
Kaiser added that today his clients are very diverse.
“Honestly, the people who use the food bank are your next door neighbor, your cousin, your colleague,” she said.
“We see people who would never have thought they would need this kind of support, and now they just have to.”
Kaiser said that, fortunately, the organization is holding steady in terms of food donations and funds, but he expects another rise in demand over the summer.
“Seven percent,” she said. “But this number does not take into account inflation. It does not account for these rising food prices. It’s just based on past history. So we know that seven percent will certainly be higher.”
The food bank has now relaxed its basket rules to help more Calgarians. Now customers can pick up a cart every 7-10 days.
Olx Praca tenants say bid wars and ‘bloat’ lead to desperate measures
Shillon said Olx Praca residents can also seek help from the city, pointing to several aid programs.
He also advised people to cope with rising costs by changing their shopping habits, inviting them to ask themselves a few questions.
“Can you reduce consumption? Things that are not obligatory for you now, can you do later? Can you control spending?
Chillon said he expects price increases to begin to stabilize in the second half of the year.
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