Inflation tells us how much prices have changed year-over-year. It’s noticeable in the cost of everyday things, for example the price of a candy bar today compared to 20 years ago. Over time, increases in inflation tend to be offset by increases in wages, since inflation and wages both tend to...

This study uses the 2022 Portrait of Canadian Society Survey to examine the impact of rising inflation on the lowest income Canadians. Using multiple pre-pandemic data sources, the study takes a closer look at people living in the bottom family income quintile, examining their family income, debt...

The Consumer Price Index (CPI) rose 6.8% on an annual average basis in 2022, following gains of 3.4% in 2021 and of 0.7% in 2020. The increase in 2022 was a 40-year high, the largest increase since 1982 (+10.9%). Excluding energy, the annual average CPI rose 5.7% in 2022 compared...

Managing your finances means finding the right balance. Inflation and higher interest rates signal that you may need to adjust your budget to find the right balance between daily spending and paying down debt. The right balance will depend on your financial situation and goals. This selection of...

Using data provided by provincial and territorial government sources, Welfare in Canada, 2021 describes the components of welfare incomes, how they have changed from previous years, and how they compared to low-income thresholds. Access the report here.  During the launch event, the report’s...

When inflation rates go up, it can be tempting to look for ways to grow your money at rates higher than the rate of inflation. Investing can feel more appealing than the average savings account. While it’s important to stay the course on your investing goals, don’t neglect your savings. There...

A good deal of attention has been paid to the question of what these high rates of inflation in housing and food costs mean for Canadians. Much of the concern has focused on the implications for middle-income Canadians hoping to purchase a home, while squeezing their household budgets. But what do...

The Standard & Poor's Ratings Services Global Financial Literacy Survey is the world’s largest, most comprehensive global measurement of financial literacy. It probes knowledge of four basic financial concepts: risk diversification, inflation, numeracy, and interest compounding. The survey...

The key takeaways from the 2022 Canadian Retirement Survey are: Canadians are growing increasingly concerned about day-to-day cost of living impacting their ability to save for retirement.  Capacity to save is dissolving for working Canadians, especially for those under 35 Inflation and...

This article from OSC provides 8 tips to help you plan for retirement.  Transitioning from working life to retirement takes careful financial planning and decision-making – give yourself plenty of time to prepare. Here are some things you can do ahead of...