in the U.S. in April was down to 4.9% from a high of 9.1%.
Nice to see the old tricks still work.
Nice to see the old tricks still work.
Inflation
- Thread starter Tecumsehsbones
- Start date
how long before we'll need a wheelbarrow full of cash to go buy a loaf of bread?
that might be the impetus needed for everyone to make their own pitchfork (cuz chinese-made ones will be too expensive) and march on their capitals en masse!
(leave your truck at home, kids)
or not
we don't deserve a government we're too chickenshit to get
that might be the impetus needed for everyone to make their own pitchfork (cuz chinese-made ones will be too expensive) and march on their capitals en masse!
(leave your truck at home, kids)
or not
we don't deserve a government we're too chickenshit to get
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Meh, inflation happens. Smart governments do what they can to keep it in check.
Interestingly, the U.S. Federal Reserve's inflation "target" is 2% per year. Remarkably sensible to not be barking about zero inflation. One of the rare instances of the government not promising the moon and the stars.
Yeah, a package of Smokies 900g or 1kg, depending on the brand… just a few years ago (or last year) would be $6.99-$8.99 and now the same package, same brand, would be $12.99-14.99….so in my basic math that’s a jump of about 75%. The Gov’t isn’t saying inflation hit that figure in the last year or two.
The $0.99 Arizona iced tea (regular price a year ago) is now sales deal at 2 for $3.00??
The loaf of the d’Italiano Bread that less than a year ago, was easily found at a sale price of 2/$5… if you’re lucky you might find it for 2/$7 now…but probably not.
I could go on and on, but it’s not being held at 2%/annum by any means for damn near anything up here. It’s actually pretty ugly.
How ‘bout these? Last year regular price most places was $1.99/each but not this year:
…& a year ago you could regularly find these on sale for $1.50 (or a $1.49 or a $1.47, etc…) but this is from the grocery store closest to our home.
…& a year ago you could regularly find these on sale for $1.50 (or a $1.49 or a $1.47, etc…) but this is from the grocery store closest to our home.
And yet Joe Public gets pissed with people who strike and say they don't make enough?
Joe Public should be pissed at the current Government. We (Canada) spent ourselves into a national hole for several consecutive years, then COVID hit…then the last couple of years…with no restraint.
….& yes, the price of gas is out to lunch. We’re an oil surplus nation that for all intents and purposes can only export does commodity south….with minor exception. We should carbon tax ourselves back into prosperity….& I’m more concerned with heating my home, then the gas in my truck, cost wise.
cuz it goes without saying
if you got it, a truck brought it
they're not mentioning the climate change hysteria that's driving the inflationary aspect of it either, cuz you know, the (bogus) 'science'
but then ijitz gotta ijit
The dollar has been devalued. Going by commodity prices and the volume of sales, the CAD should be humming along at par with the USD.
yep, bought science will say anything, same as coerced science. it's stifled science where the truth is most likely found.
Statistics Canada says the annual pace of inflation rose to 4.4 per cent in April
Author of the article:Canadian Press
Canadian Press
Published May 16, 2023 • 2 minute read
OTTAWA — Statistics Canada said Tuesday the annual pace of inflation rose in April for the first time since it peaked in June last year.
The agency said its consumer price index was up 4.4 per cent compared with a year ago, up from a year-over-year increase of 4.3 per cent in March.
Statistics Canada said the first tick higher in the annual rate since it peaked at 8.1 per cent in June 2022 was driven by higher mortgage interest costs which were up 28.5 per cent compared with a year ago due to higher interest rates. A 6.1 per cent increase in rent prices also helped push the overall rate up.
Meanwhile, grocery prices, which have been closely watched, were up 9.1 per cent compared with a year ago, but that increase was smaller than the 9.7 per cent year-over-year jump in March.
Prices for fresh vegetables in April were up 8.8 per cent on a year-over-year basis compared with a 10.8 per cent gain in March, while coffee and tea prices increased 6.4 per cent year-over-year compared with 11.1 per cent in March.
Gasoline prices in April were down 7.7 per cent compared with a year earlier when prices were higher due in part to Russia’s of Ukraine. However, gasoline prices in April rose 6.3 per cent compared with March, the largest monthly increase since October 2022.
Despite the increase in the overall annual rate of inflation, the average of the three core measures of inflation that are tracked by the Bank of Canada came in at 4.70 per cent for April, down from 4.97 per cent in March.
The Bank of Canada has forecast that the annual inflation rate will come down to about three per cent in the coming months, but suggested that a return to its target of two per cent will take longer.
The central bank’s key interest rate has been on hold at 4.5 per cent.
The Bank of Canada’s governing council considered raising rates last month, but decided to remain on pause.
torontosun.com
Author of the article:Canadian Press
Canadian Press
Published May 16, 2023 • 2 minute read
OTTAWA — Statistics Canada said Tuesday the annual pace of inflation rose in April for the first time since it peaked in June last year.
The agency said its consumer price index was up 4.4 per cent compared with a year ago, up from a year-over-year increase of 4.3 per cent in March.
Statistics Canada said the first tick higher in the annual rate since it peaked at 8.1 per cent in June 2022 was driven by higher mortgage interest costs which were up 28.5 per cent compared with a year ago due to higher interest rates. A 6.1 per cent increase in rent prices also helped push the overall rate up.
Meanwhile, grocery prices, which have been closely watched, were up 9.1 per cent compared with a year ago, but that increase was smaller than the 9.7 per cent year-over-year jump in March.
Prices for fresh vegetables in April were up 8.8 per cent on a year-over-year basis compared with a 10.8 per cent gain in March, while coffee and tea prices increased 6.4 per cent year-over-year compared with 11.1 per cent in March.
Gasoline prices in April were down 7.7 per cent compared with a year earlier when prices were higher due in part to Russia’s of Ukraine. However, gasoline prices in April rose 6.3 per cent compared with March, the largest monthly increase since October 2022.
Despite the increase in the overall annual rate of inflation, the average of the three core measures of inflation that are tracked by the Bank of Canada came in at 4.70 per cent for April, down from 4.97 per cent in March.
The Bank of Canada has forecast that the annual inflation rate will come down to about three per cent in the coming months, but suggested that a return to its target of two per cent will take longer.
The central bank’s key interest rate has been on hold at 4.5 per cent.
The Bank of Canada’s governing council considered raising rates last month, but decided to remain on pause.
Statistics Canada says the annual pace of inflation rose to 4.4 per cent in April
Statistics Canada said Tuesday the annual pace of inflation rose in April for the first time since it peaked in June last year.
Scotiabank economist Derek Holt said the central bank is in a “race against the clock” with high prices. “If the BoC doesn’t adopt the crush it, killer mentality, then it may never succeed in getting inflation down to two per cent,” he said in a note to clients on May 17.
The Bank of Canada has raised its benchmark rate to 4.5 per cent from 0.5 per cent over the past year in a bid to bring inflation that surged to a four-decade high back to earth.
The longer higher inflation continues, the more it will erode consumer and business confidence in the Bank of Canada’s ability to achieve its two-per-cent target, he said.
Holt believes higher inflation “has already gone on too long,” and that consumers and businesses have possibly lost faith in the two-per-cent mantra, at least in the near term. As evidence, he pointed to the bank’s most recent consumer and business surveys. They showed that consumers expect inflation of about six per cent over the next year, cooling to just above four per cent two years from now. Businesses expect inflation to hover just below four per cent over the next two years.
apple.news
The Bank of Canada has raised its benchmark rate to 4.5 per cent from 0.5 per cent over the past year in a bid to bring inflation that surged to a four-decade high back to earth.
The longer higher inflation continues, the more it will erode consumer and business confidence in the Bank of Canada’s ability to achieve its two-per-cent target, he said.
Holt believes higher inflation “has already gone on too long,” and that consumers and businesses have possibly lost faith in the two-per-cent mantra, at least in the near term. As evidence, he pointed to the bank’s most recent consumer and business surveys. They showed that consumers expect inflation of about six per cent over the next year, cooling to just above four per cent two years from now. Businesses expect inflation to hover just below four per cent over the next two years.
Posthaste: Bank of Canada needs to 'crush' inflation with another rate hike, Scotiabank economist says — Financial Post
Derek Holt says if central bank doesn't raise rates now, inflation may never fall back down to 2%
Holt also cited pay increases negotiated in recent collective bargaining agreements as evidence that people expect higher inflation for longer. “No one really believes in two per cent for years to come,” he said. Just weeks ago, Ottawa and the Public Service Alliance of Canada agreed to a contract, following a country-wide strike, that included a wage increase of 12.6 per cent over a four-year period, retroactive to June 2021.
