Low-income Canadians are hit the hardest by rising inflation rates

Ronald D. Kneebone and Margarita Wilkins from the University of Calgary’s School of Public Policy released a report in July on the disproportionate impact that high inflation rates have on low-income individuals and families.

Canadians who rely on social assistance face a major economic risk with high inflation threatening to cause them to endure a catastrophic fall in what is already a low standard of living.

A 1% increase in rent relative to income is associated with a 2% increase in the prevalence of homelessness.

If provincial governments do not address inflation by increasing social assistance incomes, the consequences are dire and could result in deteriorating health, crowded living conditions, higher food bank use and rising rates of homelessness.

You can read the report here.