Article in G&M:
https://www.theglobeandmail.com/gif...3045d1f3c4233eb11/2HGXIBGFK5G3NEPRFVJ5M57VCU/
(I copied the link to 'gift' it, if its still behind the paywall, can someone educate me on how to post without the paywall?)
From the article:
"Polling shows 55 per cent to 60 per cent of Canadians were already highly concerned about rising costs in 2019 and 2015, when inflation was well below the Bank of Canada’s target.
But Statistics Canada data tell a different story. Households in every income group saw their after-tax income grow faster than prices over the past decade.
Some certainly saw their income grow more slowly than prices, but the data suggest they’re a minority. Income and wage data across income, age and occupational groups show a large majority of people with incomes growing faster than their cost of living since the early 2010s, and even since 2019, the prepandemic year. Financial data also show net financial assets increasing for households across all income deciles, even when excluding housing and pension asset appreciation.
Three potential reasons could explain this gap between data and perception: incorrect data, inflation misperception and overly optimistic expectations." (emphasis added)
This article seems to go against what lots of people are saying: Life has become more expensive in many ways! We've had some threads and posts on it affecting this hobby/business and people cutting back while some SPs raise their prices to cover costs.
My income certainly hasn't been keeping up with increasing prices in any sector. I do have savings/investments I tap into for things I want, but on a pure 'income to costs' basis, I'm falling behind every single year.
What's your take on this article?
https://www.theglobeandmail.com/gif...3045d1f3c4233eb11/2HGXIBGFK5G3NEPRFVJ5M57VCU/
(I copied the link to 'gift' it, if its still behind the paywall, can someone educate me on how to post without the paywall?)
From the article:
"Polling shows 55 per cent to 60 per cent of Canadians were already highly concerned about rising costs in 2019 and 2015, when inflation was well below the Bank of Canada’s target.
But Statistics Canada data tell a different story. Households in every income group saw their after-tax income grow faster than prices over the past decade.
Some certainly saw their income grow more slowly than prices, but the data suggest they’re a minority. Income and wage data across income, age and occupational groups show a large majority of people with incomes growing faster than their cost of living since the early 2010s, and even since 2019, the prepandemic year. Financial data also show net financial assets increasing for households across all income deciles, even when excluding housing and pension asset appreciation.
Three potential reasons could explain this gap between data and perception: incorrect data, inflation misperception and overly optimistic expectations." (emphasis added)
This article seems to go against what lots of people are saying: Life has become more expensive in many ways! We've had some threads and posts on it affecting this hobby/business and people cutting back while some SPs raise their prices to cover costs.
My income certainly hasn't been keeping up with increasing prices in any sector. I do have savings/investments I tap into for things I want, but on a pure 'income to costs' basis, I'm falling behind every single year.
What's your take on this article?
