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How inflation actually affects you

Inflation isn't just a number on the news. Here's what rising prices actually do to your wallet, savings, and everyday life in Canada. Canadian Money Brief   ·  Updated April 2026  ·  5 min read You've probably noticed that your groceries cost more than they did a few years ago. So does rent, a tank of gas, and a restaurant meal. But when the Bank of Canada announces that "inflation is at 2.8%," what does that actually mean for the money in your pocket? Let's cut through the economics jargon and get to what matters: the real, tangible ways inflation reshapes your financial life — whether you notice it or not. What inflation actually is Inflation is the rate at which prices across the economy rise over time. Canada's central bank tracks this using the Consumer Price Index (CPI), a basket of goods and services — think groceries, gas, rent, clothing, and internet plans — that a typical household buys. When that basket costs more than it did a year ago, we hav...
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NATO head pushes Canada to meet 2% defence spending target

 

Speaking in Ottawa on Wednesday, NATO Secretary-General Jens Stoltenberg urged Canada to meet the target agreed upon by members of the military alliance: spending at least two percent of its gross domestic product (GDP) on defense. 

While Canada has made commitments in this regard, Stoltenberg expects all allies to do more and follow through on their pledges. Notably, in 2023, there was an unprecedented 11% increase in defense spending across European Allies and Canada, with 18 Allies expected to meet the 2% GDP target in 2024—a significant rise since 2014 when only three Allies achieved it. 

Canada’s current forecasted defense spending is around 1.36% of GDP, projected to reach 1.43% by fiscal year 2024-25. 

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