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Household Debt Squeeze Drives Canadian Delinquencies Higher

  • TransUnion reports jump in late payments on non-mortgage debt
  • Food, clothing prices are rising along with debt service costs
Rising costs for everyday consumer items like food and clothing mean there’s “generally a tightening in the wallet” among Canadians.

Rising costs for everyday consumer items like food and clothing mean there’s “generally a tightening in the wallet” among Canadians.

Photographer: Cole Burston/Bloomberg

In the land of rising household debt, Canadians have one more thing to worry about.

Delinquency rates are moving higher as the cost of living increases and servicing debt takes a bigger share of disposable income, according to TransUnion Canada.