TORONTO, May 23, 2014 /CNW/ - Statistics Canada has released their report on costs in Ontario showing that Ontarians are paying more for everything than they were a year ago.
The report shows that Ontario had the highest increase in cost of living outside of the oil producing provinces. The cost of natural gas and gasoline are specifically cited as major cost increases. A fact that Ontario families already knew, and further proof that people need a plan that makes life more affordable and do not need four more years of the Wynne Liberals hitting families with taxes, tolls, fees, and higher bills.
Ontario's inflation rate was 2.4 percent – that is significantly higher than the Bank of Canada target rate and the National Average.
According to Statistics Canada this was driven by a significant increase in gasoline prices, electricity costs, natural gas prices and tax hikes.
The inflation rate is a year over year rate. This means that an Ontario family of 4 who made 50,000 dollars last year and 50,000 dollars this year has an average of $1200 dollars less of purchasing power this year due to the increase in Ontario's cost of living.
SOURCE: New Democratic Party of Ontario
For further information: Alex Callahan, 416-591-5455 x2386