Price hikes hit young parents as inflation soars: ‘Most expensive part of your years’
Global News
Inflation hit a 39-year high in June amid an economy hampered by COVID-19, labour shortages, supply chain challenges and the looming threat of a recession.
Carlyne St Jules may have to cut her family vacation short this year, thanks to soaring inflation.
“Everything out here, it’s $300 and up,” she says of hotel rooms in Montreal, where she has family and previously studied dance.
“To fill my tank … to come here it was like $89. I have a small four-door Kia.”
St Jules, a 29-year-old event co-ordinator who now lives in New York City with her three children, ages two, seven and 10, says she “brought them out here so they can see my old stomping grounds – but I don’t know how much I’ll be stomping around here with these prices.”
From ballooning grocery bills to pricier extracurricular activities, parents are confronting cost-of-living increases that have them worried about opportunities for their children and a stable financial future for their family.
Inflation hit a 39-year high in June amid an economy hampered by COVID-19, labour shortages, supply chain challenges and the looming threat of a recession.
Money doesn’t stretch as far these days on everything from diapers to daycare and family outings and vacations are harder on the wallet as the cost to fill up your gas tank soars and prices for travel accommodations rise.
Young parents aren’t accustomed to such speedy price hikes; many weren’t born yet when inflation last hit this pace in 1983.
