Canadian cost of living ticks higher

Canadians’ cost of living increased in December and by a higher percentage than the previous month.

Statistics Canada reported that the consumer price index was up 1.5 per cent in the 12 months to December following a 1.2 per cent rise in November. Shelter and transportation were among the drivers of the increase.

Shelter costs were up 2.1 per cent while transportation was impacted by a 5.5 per cent rise in gasoline prices. Meanwhile, food costs were lower.

Six provinces saw an increase in their consumer price indexes.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Market update:

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Industry news

Submit a press release

Poll

Should government update pot rules to prohibit growing in rentals?