Home Economics: Rates weigh on food affordability; how to save on holiday travel

Home Economics newsletter: Rates weigh on food affordability; how to save on holiday travel; here's how the latest rate hike could impact Canadians' mortgages; Canadians cutting back spending amid downturn concerns

The Bank of Canada hiked interest rates for the sixth-straight time and as rates continue to rise, it could squeeze consumers on both ends with food affordability. Sylvain Charlebois, director of the Agri-Food Analytics Lab at Dalhousie University, said many households will have less money to devote to food, compared to just a few months ago. BNN Bloomberg’s Hilary Punchard has the full story.

How to get the best bang for your buck with holiday travel

Many Canadians might be looking to escape the cold this winter, but with inflation pushing up travel expenses, it’s important to look for deals to help cut costs. A recent report from Expedia recommends booking flights on Sundays to save up to 15 per cent. It also said that Friday is the cheapest day to fly, saving travellers up to 20 per cent on average for flights within Canada. Here are more tips and tricks to keep in mind when planning your holiday getaway.