Canada's Affordability Crisis: High Inflation and Debt Under Carney

The Conservative Party of Canada has been making claims that Canadians 'can't afford life under Carney,' pointing to high grocery inflation, household debt, and credit-card pressures. According to Statistics Canada, OECD, Equifax, and TD data, these affordability pressures are indeed a reality in Canada.

Canada's food inflation is the highest among G7 countries, with 3.9 per cent increase in June 2026. This is nearly twice the Bank of Canada's two-per-cent inflation target. The Conservative Party also cites a survey by Leger that found 76 per cent of Canadians reporting that food and groceries have the greatest impact on household finances.

Household debt remains elevated, with households owing $1.80 in credit-market debt for every dollar of disposable income. This is not only true for Canada but also makes it exceptionally highly leveraged compared to other G7 economies.