Canadian Inflation: The Ultimate Guide To Survive Rising Prices in 2022

Canadian Inflation: The Ultimate Guide To Survive Rising Prices in 2022

02.25.2022 - This article was originally published on Hardbacon.ca.

A recent poll from the Angus Reid Institute shows that 57 per cent of Canadians reported having a difficult time feeding their families recently. That’s an increase from 36 per cent in 2019, all due to Canadian inflation. So what is inflation, and what can you do to stop it from wreaking havoc in your life?

There’s a reason why “inflation” sounds like such a scary word. In fact, it sounds a lot like “inflammation”, which could easily be a metaphor for how inflation works. Before we get into details about inflation though, let’s get your wheels spinning with a little visual.

Inflammation is a reaction to something bad. If you’ve experienced a bee sting, you watched the skin around the site grow red and puffy. That is inflammation. We know it will go away. Unfortunately, the same does not go for inflation. Like any other financial concept, inflation can decrease but not for long periods of time. It might just be a few years.

Another sad reality of inflation is that decreasing prices on everything from gasoline to groceries typically come with an economic recession. Canada seems to have clawed its way out of what economists have called “the most abnormal recession ever” during the pandemic. However, Canadian inflation is at an all-time high.

To read the full guide written by $HMONEY Radio host Anastasia, tap or click here.

To read Anastasia’s other articles published on Hardbacon, tap or click here.

Anastasia’s author bio on Hardbacon.ca

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