Canada's inflation rate slows to 3.8%
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https://www.cbc.ca/news/business/canada-inflation-september-1.6998503
https://www.cbc.ca/news/business/canada-inflation-september-1.6998503
Cool, cheese is a little cheaper but my mortgage will renew next year making me homeless.
But that cheese, so glad the price dropped ten cents after climbing 2 dollars
Inflation rate slowing doesn't mean grocery prices drop either, prices just increase slower... so don't celebrate on that cheese just yet
That's why its such a propagandad measurement, like no nothing is getting cheaper and lardlords/walmart would be damnned to let it, were just allowed to celebrate the 2nd derivative of our bank accounts cause everything else is harder to put a positive spin on
Uh well I believe we should celebrate getting inflation closer to the 3% target because that’s a healthy economic indicator. It’s not “propaganda” if you remember high school economics.
Thank God I won't be homeless for Christmas, that gets to wait until January now. :)
Just kidding, I'm still renting because I can't afford to save for a down-payment. :)))
OK so then show me some data showing the rich vs poor income, scaled to inflation.
I'm sure it'll be a nice linear trend where everyone's income increases at the same rate right?
This is what I mean by propaganda, you could argue for and against inflation in a million different ways - all that matters at the end of the day is its net effect, keeping people poor
I don't understand what's your point here. I didn't meant that 3% is a great inflation to have forever, I just said that going from 4% to 3.8% is good because the target is 3%. BoC meeting its targets is the good economic indicator. It's a single indicator, not synonym of a perfect economy, and a great economy doesn't translate into great society/QoL either.
I think the bizarre thing is that unions are negotiating 3% wage increases and it's like.... that's below inflation.
Ever wondered how good life would be if the government had built more social housing and had more control over where corporate profits went?
Inflation rate, or corporate greed rate? I haven't seen much inflation, just a bunch of price fixing and gouging
This is the best summary I could come up with:
The figure, which was reported by Statistics Canada on Tuesday, was lower than economists were expecting.
That's down from more than 11 per cent this time last year, and it's because price increases for many food items are slowing down — and actually declining for things like bacon, bananas, grapes, and some types of cheese.
"Large monthly gains in September 2022, when grocery prices increased at the fastest pace in 41 years, fell out of the 12-month movements and put downward pressure on the indexes," Statistics Canada said.
Benjamin Reitzes, an economist with the Bank of Montreal, says the inflation report paints a picture of an economy that is cooling down, and makes it all but certain that the Bank of Canada will holds rates steady when it meets next week.
"The level of inflation remains much too high for comfort, but the trend is the Bank of Canada's friend here," he said.
"Given that inflation is the most lagging of indicators, and the economy is clearly weakening, we're likely to see ongoing disinflationary pressure ... there's no need for further rate hikes in Canada."
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