Inflation highest in nearly two decades
You may have noticed prices are going up. Last month, McLaughlin on Your Side reported on rising grocery and gas prices, which are contributing to higher inflation.
Statistics Canada reports the consumer price index in September was up 4.4 per cent compared with a year ago. That's the highest level in 18 years.
Gas prices are up nearly 32.8 per cent, food is up 3.9 per cent, meat is up 9.5 per cent and passenger vehicles have risen in price by 7.2 per cent.
"This is due to the supply side constraints more than anything and those bottlenecks will probably be worked out in the early part of 2022. And a lot of this pressure will be alleviated as long as it doesn't spill over to higher wage demands," explained Moshe Lander, Concordia University economics professor.
There is also a labour shortage and experts say it is tougher to get people to work in the agricultural food sector.
"It was already difficult before the pandemic, it just got worse so we're seeing wages go up, eight to 10 per cent a year, great news for employees, but unfortunately someone has to pay for those increases," said Sylvain Charlebois, senior director of Dalhousie University’s agri-food analytics lab.
While prices have gone up on airfare too, that has not stopped many Canadians from travelling. Pent up demand is being blamed for some of the price increases on everything from hotels to rental cars. However, expect airfares to level off as more planes are added and capacity increases, along with more competition from lower cost airlines like Flair and Swoop.
With files from CTV's Vanessa Lee
CTVNews.ca Top Stories
BREAKING Wrong-way crash involving police on Ontario's Highway 401 leaves 4 dead, including infant
A wrong-way crash on Highway 401 in Whitby, Ont. last night has left four people dead, including an infant, Ontario’s police watchdog says.
BREAKING Judge holds Trump in contempt, fines him US$9,000 and raises threat of jail in hush money trial
Donald Trump was held in contempt of court Tuesday and fined US$9,000 for repeatedly violating a gag order that barred him from making public statements about witnesses, jurors and some others connected to his New York hush money case. If he does it again, the judge warned, he could be jailed.
McGill requests 'police assistance' over pro-Palestinian encampment
McGill University says it has 'requested police assistance' about the pro-Palestinian encampment on its lower field.
New cancer treatment approved, but not everyone thinks it's what's best for patients
A new cancer treatment recently approved in Canada promises to cut treatment time down to just minutes, but experts have differing opinions on whether it's what's best for patients.
Air Canada walks back new seat selection policy change after backlash
Air Canada has paused a new seat selection fee for travellers booked on the lowest fares just days after implementing it.
Province boots mayor and council in small northern Ont. town out of office
An ongoing municipal strike, court battles and revolt by half of council has prompted the province to oust the mayor and council in Black River-Matheson.
Canada's new dental program offering hope of free care to millions but many dentists aren't signed up
A new Canadian dental care program is offering the hope of free care to millions, but while 1.7 million people have signed up for the plan, only about 5,000 dentists have done the same.
Sword-wielding man attacks passersby in London, killing a 13-year-old boy and injuring 4 others
A man wielding a sword attacked members of the public and police officers in a east London suburb early Tuesday, killing a 13-year-old boy and injuring four others, authorities said.
Police searching for 'armed man' in Dartmouth, N.S., residents asked to shelter in place
Residents in the area of Gaston Road in Dartmouth, N.S., are being asked to shelter in place as police search for an armed suspect.