Across the country, fees have jumped an average of more than 8 per cent in the past two years, three times faster than inflation, the report says; in Toronto, fees have spiked by 15 per cent.
At about $36,000 a year, the median cost of licensed daycare for a baby and a toddler in Toronto is more than university tuition, the report notes.
“It will be no surprise to many parents that regulated child care is expensive, but what is most shocking is that in many cities fees have risen much faster than inflation since 2014,” says economist David Macdonald, the study’s author. “This can amount to parents paying a $1,000 more a year per child than they did just two years ago.
Daycare fees in Toronto jump 15 per cent in two years, survey finds