The price people are paying for everything from food to fuel is up across the country, and while it’s being felt across the board, those on a fixed income are being hit particularly hard.
Chris Carr spoke with seniors and students in Saskatchewan.
Prices are rising very quickly compared to historical norms, and for many in Saskatchewan, wages are not keeping pace. That means tough decisions are being made, especially for those who are on a fixed income.
“And we’re seeing those choices show up in food bank visits, people making different lifestyle choices,” said Jason Childs, economics professor at the University of Regina.
June Gawden with the Saskatoon Council on Aging is seeing those lifestyle choices in real time among seniors.
“Perhaps they might be skipping items. And their health actually depends on getting healthy food,” Gawden said.
She says many seniors simply have no choice.
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“Food price increases are well above what many older adults on fixed incomes had planned for,” Gawden added.
It’s the same reality for many students at the University of Saskatchewan who are being forced to choose between their education and paying rent.
The president of the University of Saskatchewan Students Union said many students are now delaying graduation and working more hours at a part-time job, just to make ends meet.
More and more of those students are now relying on foot hampers.
“I’ve seen students skip their classes, skip their tutorials, skip their labs, just in order to go to work and make money,” said Abtin Safaeian.
The April CPI figures from Statistics Canada mark the highest annual inflation rate since May 2024.
Much of the spike is being blamed on higher prices at the pumps because of the war in Iran.
Childs says a reduction in beef and cattle herds is a contributing factor in higher beef prices, for example.
But the spike, Childs said, can be corrected through changes in government policy.
“It’s not just what’s going on with oil,” Childs said. “A lot of this, when you look across the board, at other categories of goods, that are important, those are policy decisions that are made by provincial and federal governments.
“And local governments, too, that are really driving a chunk of this. Immigration is going to play a role here. If you add more people and you don’t add more supply, prices are going to get bid up.”
Childs points out some analysts are talking about potential interest rate hikes, if oil prices stay where they are. That could be detrimental to provinces with high unemployment rates.
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