Just The Facts: Carney’s Cost of Living Crisis
Ottawa, ON – Mark Carney told Canadians to judge him by the prices they see at the grocery store. The results give him a failing grade. Food inflation has risen 3.4 per cent in August year-over-year, according to the latest data – 79 per cent higher than inflation overall and 70 per cent above the inflation target.
Once affordable staples like meat are seeing prices skyrocket. Fresh or frozen beef has risen by 12.7 per cent, while the price of meat overall increased 7.2 per cent in August compared to the previous year, after a 4.7 per cent increase in July. The CEO of one of Canada’s largest food banks, Neil Hetherington, said the Toronto-based Daily Bread Food Bank will see four million visitors in 2025, double what it was just two years ago.
According to Food Banks Canada, more than a quarter of Canadians are now experiencing food insecurity – resulting in an F grade for the Liberal government. Among those making below $75,000, 57.3 of their income is now being spent just on the essentials like groceries, utilities and transportation.
43 per cent of respondents also reported they’re spending more than 30 per cent of their income on housing. That’s no surprise as the cost of rent rose another 4.5 per cent in August, while mortgage interest costs increased 4.2 per cent.
Canadians have gotten exactly the opposite of what they voted for, because Carney is just another bait and switch Liberal. Conservatives will continue to hold the Prime Minister accountable for his own commitments and restore the Canadian promise with stronger take-home pay, affordable food and homes.