June 7, 2019
A new study says the official inflation rate is underplaying the financial stress being felt by families with children.
Statistics Canada’s consumer price index is a carefully built gauge of the changing cost of a broad mix of goods and services for the whole population. It’s natural for individuals to feel their own cost of living isn’t fully reflected by the CPI, which has been tame for the better part of a decade.
Do CPI skeptics have a case? A University of New Brunswick study suggests that households with children experienced persistently higher living costs than those reported in the CPI since 2009. Zeroing in on Ontario, the study found an inflation rate of nearly 10 per cent for households with children between 2010 and 2015, compared to an official CPI of just below 2 per cent.