Canadians and Americans Have One Thing in Common: They’re Buying Less
(TargetLiberty.org) – The Bureau of Labor Statistics recently released its monthly Consumer Price Index (CPI) report showing inflation numbers for August. Although the annualized percentage came down 0.2% from the prior month, the 8.3% rate still shows inflation is out of control. In fact, the rate has been steadily on the rise all year, affecting the price of just about everything consumers buy — including food.
A poll conducted by NPR/PBS NewsHour/Marist indicates almost three out of four people are either driving less, buying less to eat, canceling vacations, or skipping doctor visits and medication in order to get by. And they’re not alone. Canadians are also cutting back on groceries, with some changing the way they eat and many using coupons and discount stores just to make ends meet.
Almost a quarter of #Canadians are buying #lessfood as they struggle to keep pace with #higherfoodprices due to #inflation, says a new report by a food research lab.https://t.co/4xcMZFs6lt
— Epoch Times Canada (@EpochTimesCan) September 20, 2022
Canada has experienced an approximate 10% bump in food inflation since May. Agri-Food Analytics Lab (AAL) Senior Director Sylvain Charlebois said people in the nation to the north are “struggling with higher prices,” which is something Americans can relate to as well.
In America, the cost of groceries has risen 11.4% since August 2021. According to the recent NPR survey, 37% of those included said they are financially worse off than they were at the same time in 2021. That number rose by 8% in just seven months.
When do you think the US and Canada will get a break from rising consumer costs?
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