Inflation, interest rates hit lower-income Canadians' purchasing power harder: report

A new report from the parliamentary budget officer says inflation and higher interest rates have eroded Canadians' purchasing power since 2022, particularly for lower-income households.

Inflation, interest rates hit lower-income Canadians' purchasing power harder: report
Parliamentary Budget Officer Yves Giroux waits to appear before the Standing Committee on National Security, Defence and Veterans Affairs (SECD) at the Senate in the Parliamentary Precinct of Ottawa, on Monday, June 3, 2024.

A new report from the parliamentary budget officer says inflation and higher interest rates have eroded Canadians' purchasing power since 2022, particularly for lower-income households.