Cost of necessities rising

The basic necessities cost more than they didfive years ago on P.E.I., but incomes aren't necessarily keeping up.

According to Statistics Canada, the cost of food has risen 21.7 per cent since 2007.

But it's not just food that's taken a jump.

Transportation costs have risen ten per cent in the last five years.That includes the cost of owning or renting a car, and maintaining it, as well as public transportation. And gas prices are part of that equation as well.

The combined expense of owning or renting a home, plus property taxes and paying for water, electricity and oil is up 8.5 per cent since 2007.

Meanwhile, the most recent numbers from Statistics Canada, for 2010, show the average personal income on P.E.I. had gone up 3.8 per cent since 2007.

In October 2007, P.E.I.'s unemployment rate was 8.6 per cent. Last month, it was up to 11.7 per cent.Ninety-six hundredpeople were out of work on the Island in October of this year.

With high unemployment, and modest pay increases, many Islanders are feeling stretched beyond their means.