Canadians across the country are feeling squeezed, but big families with multiple children are at times shouldering much of the higher costs
With inflation at a nearly 40-year high, Canadians are feeling the financial strain. In a six-part series this summer, The Canadian Press is speaking to people at different stages of life to see where they’re being hit the hardest. This story details the experiences of mid-career adults and their families.But now the 43-year-old father of three is suffering from sticker shock as his family's grocery bill balloons.
— and changing demographics and consumer patterns have left some of them more exposed to inflation than in previous generations. Adult children are also living longer at home. New census data found almost half of young adults in Ontario cities like Toronto, Oshawa, Windsor and Hamilton were living in the same household as at least one parent.
Higher costs could also push Canadians in their prime earning years to curtail savings, potentially later delaying retirement to pay the bills, she said. More than half of Canadians aged 55 and up said they've delayed retirement because of mounting inflation this year alone, based on respondents to a recent poll by Bromwich and Smith and Advisorsavvy.