Inflation 1.7% higher then bank predicted


Angstrom
#1
Inflation hits 8-year high, pressures Bank of Canada | Business | Reuters
Just a little proof that Canada is not in such a great position economically.

Canadian inflation rose to its highest level in more than eight years in May, boosting the Canadian dollar and raising the prospect the central bank will raise interest rates sooner than previously expected. Annual inflation hit 3.7 percent, well above expectations and far above the Bank of Canada's 2.0 percent target, according to Statistics Canada data on Wednesday.
Last edited by Andem; Jul 1st, 2011 at 04:28 PM..Reason: Added excerpt
 
taxslave
#2
Note that the majority of the inflation was caused by theft at the pumps. If the government had the balls to ban speculation in gas futures there would be very little inflation. Raising interest rates would only help the idle rich and make life difficult for the rest of us.
 

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