Canada’s inflation rate rose to a new 18-year high of 4.4 percent in September. Statistics Canada reported that the transportation index, which includes gasoline, has increased by nine percent. Shelter costs have gone up by 4.8 percent in the past year, while food prices are up by almost four percent. Prices for every type of food went up sharply. The increase in the price of meat is one of the fastest at a rate of 9.5 percent per year since 2015. Meat and chicken prices rose by 10 and 13 percent respectively and pork has gone up by nine percent.
According to TD Bank, the inflation could linger on for some time, maybe until the second half of next year. The broader picture now is that inflation continues to step higher than where it is today. The higher inflation rate has caused many Canadians to tighten their belts and to find ways to travel less to the gasoline station. Among all Canadians, older people especially those who are vulnerable, socially isolated and living alone are the most affected by the increasing inflation. The inflation rate for senior households was above the national average of 24.4%, including those living in Ontario. Seniors who rented saw an inflation of 22.7% over the past year, and this made seniors, especially those with low-income, to struggle even more financially.
Fortunately, there are few organizations, like the Society of Sharing, who stepped up to provide support to low-income, isolated seniors even before the rising inflation happened. Society of Sharing is providing grocery bags full of everyday items such as food, canned goods, hygiene kits, shampoo, gift card, and other essential items for daily living, at no cost. However, they are looking for volunteers willing to deliver grocery bags straight to the senior’s home. Get involved today and be a part of their volunteer team. Not only can you help the seniors cope up with the rising inflation, but you can help them feel that someone cares especially during these challenging times. Apply today by sending an email to vrts@societyofsharing.org.