How the rising cost of living is shaping British Columbias election [Video]

In the seven years since the NDP came to power in British Columbia, food prices have jumped by almost 30 per cent.

Rent and transport costs are up by about a quarter, while the cost of filling up with gasoline has risen by almost half.

It’s been a painful process that has made the cost of living a major battleground ahead of the October 19 provincial election. But experts say that while some provincial policy strategies can have an impact, much of the inflationary pressure has global origins.

University of British Columbia Sauder School of Business associate Prof. Werner Antweiler said interest rate and fiscal policy can effect change in housing prices, but the pressures that have forced up grocery prices cannot be easily influenced at a local political level.

In a note published through the research agency C.D. Howe Institute, Antweiler said Russia’s war on Ukraine was a fundamental reason why grain, fertilizer and energy costs had cascaded into food costs.

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