Tag: consumers

Canada Economy English Featured Finance

Canadian prices on the rise forcing consumers to spend more

The holiday shopping season is in full swing. This year’s outlook is forecasted to be better than last year, according to Deloitte Canada. The accounting organization that specializes in professional services like audit, consulting and financial advisory suggests shoppers are likely to spend an estimated average of $1,841 this holiday season, an increase of 31%, compared to the $1,405 spent last year.

With over 75% of eligible Canadians fully vaccinated against Covid-19 combined with heightened consumer confidence, it’s understandable that more people are likely to venture out this year to celebrate and spend more doing so. Yet, not all appears to be positive.


Economy English Featured

Consumers forced to adapt as food prices increase

Your next trip to the supermarket may find you spending more than what you used to spend for your grocery needs. As the cost of living increases, nearly everything goes up in price, including the cost of food.

It may be more challenging for households to manage their food budget. For instance, Statistics Canada reported the cost of food grew 2.7% in August, up from the same time last year. (more…)

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