The prices of "high-end" products have increased by an average of 11% between 2020 and 2024. In contrast, "low-end" products have seen their prices soar by 25% during the same period.
However, my bank account tells me I'm spending about 40% more just for basic day to day living in the same time period without any substantial rise in personal income. The numbers do not make sense.
Bank of Canada Study
The prices of "high-end" products have increased by an average of 11% between 2020 and 2024. In contrast, "low-end" products have seen their prices soar by 25% during the same period.