Ask whether costs feel manageable, not only whether respondents think inflation is rising.
What the release measured
Statistics Canada reported year-over-year CPI inflation of 2.3% in January 2026, compared with 2.4% in December 2025. This is a rate of change in an aggregate price index. It is not a measure of whether the cost of a household’s own basket became affordable.
Why the wording matters
“Are prices rising faster?” and “Are your expenses harder to manage?” ask different questions. A person can answer no to the first and yes to the second. Treating those responses as interchangeable can turn a plausible economic story into an unsupported statement about public sentiment.
Our interpretation
For research on financial pressure, we would distinguish groceries, housing, transport and debt servicing, then ask about coping responses. Reducing quantities, switching brands and deferring purchases reveal different types of pressure. The published CPI provides context; it does not establish how many Canadians made any of those choices. A representative survey would be needed for that claim.
Evidence note. This retrospective was first published on 25 October 2026. Its period label refers to the underlying event or data, not an earlier publication. Source material may include final figures published after the period covered. Northbound’s interpretation is identified separately from reported findings. Read our publication policy.