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Inflation Rises!

Statistics Canada says annual inflation continues to rise, hitting a new two-year high of 2.4 per cent in June

Statistics Canada says annual inflation continues to rise, hitting a new two-year high of 2.4 per cent in June.    

The one-tenth increase in the so-called headline inflation was matched by an identical gain in the core reading which the Bank of Canada watches closely to 1.8 per cent, very near the central bank's two per cent target.

The agency says the gains were broadbased with all major components recording increases, although the 5.4 per cent rise in gas prices was lower than May's 6.3 per cent annualized gain.

As well, food prices increased by 2.9 per cent and food purchases in stores increased by 3.2 per cent over last year as consumers paid 9.4 per cent more for meat and 9.5 per cent more for fresh vegetables.

Government taxes on tobacco continued to exert an influence on the price of cigarettes, which are now 10.3 per cent higher than last year at this time.

Bank of Canada governor Stephen Poloz said earlier this week that he was still convinced that the current bump in inflation is temporary and that prices will begin to moderate later this year.

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  1. john posted on 07/18/2014 12:01 PM
    realy why this even news ? this has been going on forever . and it will keep going as long as have the kinda government we have .
    1. dama posted on 07/18/2014 12:47 PM
      @john News on inflation is good to track for Bank of Canada and Bank of Canada governor Stephen Poloz will take action if inflation is going to be out of control. since he said, it is temporary, I dont think he will increase the interest rate..

      Then again, all things are expensive, gas, taxes on tobacco, beer etc etc.. housing..(too expensive) and salary increase? nada.. lol
  2. The Union Cycle posted on 07/18/2014 12:43 PM
    A government union goes on strike for higher wages. The government caves in to their demands and raises taxes to account for the lost revenue. Across Canada, private sector unions notice that their wages don't go as far with the higher taxes. Some of them gradually go on strike as well, blackmailing higher wages out of their employers.

    The resulting price increase of whatever goods or services those unions provided is noticed by customers, some of whom are members of private sector unions themselves and begin agitating for strikes of their own, raising prices on whatever THEY produce, causing MORE people to notice the higher cost of living.

    This cycle of strikes and wage increases (with no commensurate improvement to the quality of anyone's work) continues to drive the price of living higher and higher, until members of another government union decide to go on strike for a higher wage. Government increases taxes again, and the cycle starts over from the beginning.

    Yes, there are other causes of inflation. But we need to put a stop to this privilege unions hold to engage in extortion without legal consequences.
  3. john posted on 07/18/2014 01:41 PM
    we should have a tax payers unions i sing up for that .
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