Despite inflation, the vast majority of Quebec households have been able to maintain or even improve their purchasing power over the past four years thanks to the general increase in their employment income and government benefits.
This is the constant of a study on the evolution of the purchasing power of Quebecers from 2019 to 2023 which was released on Wednesday by the Research Chair in Taxation and Public Finance (CFFP) of the School of Management of the University of Sherbrooke.
“Despite the inflationary surge of recent months, and the perception that purchasing power is contracting, the results in terms of real changes in the purchasing power of Quebecers since 2019 are relatively positive” mainly due to the increase in their disposable income (after taxes and social security contributions), note the authors of the study “Evolution of the purchasing power of Quebecers: what do the figures and comparisons say? “.
On the negative side, it is among single-parent households with an income less than or equal to the Quebec average as well as seniors (65 to 69 years old) living alone with an income below the average that the declines in purchasing power observed are concentrated. by CFFP researchers.
“It is important to remember that the results (of the study) do not invalidate the financial difficulties experienced by certain households. Added to this are fears, expectations and perceptions of inflation which remain high,” warn the authors of the study led by Luc Godbout, principal researcher at the CFFP and professor at the University of Sherbrooke.
All in all, they conclude, “the results of the study combined with the downward trend in the inflation rate – perhaps slow, but certainly downward – are encouraging as to the possibility that Quebec households will succeed in maintaining or catch up with their standard of living after a few more difficult years. »
