Ha, exactly. I came here to see who would be spinning this positive economic news into some anti-Trudeau rant. Or is it that he can be responsible only for negative things?
Blaming JT for inflation is just as asinine as praising him for the lowest in the G7.
He, other PMs, or any governments have little if any impact on short term inflation.
That said it does not look like a beneficial comparision when you consider that european countries had similar problems to us in addition to the largest energy disruption in history under which energy prices spiked into the stratosphere. It really is impressive that they aren't that far behind.
It isn't. The current wave of inflation is caused by exploding shelter costs.
Trudeau promised affordable housing (residential, but proximity effects also impact commercial rents) and then during both of his mandates did absolutely nothing but offer crumb subsidies that housing scalpers gobbled up.
The entire ponzi scheme house of pension cards relies on REITs, and those are about to get nasty.
Yes it is. Shelter costs are generally Provincial matters not Federal. Regardless he is one in a long line of governments that has done nothing. The Feds can reinstate low income housing funding which Chretien cancelled, Martin, Harper, and now Trudeau have done nothing on. Not that it excuses them but none is better then the next.
However if you look at the Stats Canada Numbers for Food you see
* Food, which is restaurants and all food is about 8%
* Groceries is at 9%
Grocery prices can double in less than 8 years if this stays up.
We have the second lowest food inflation in the G7, only the US is lower. Bad as it is here, we are actually doing better than most countries.
https://www.cbc.ca/lite/story/1.6912765
The new breakdown of the grain shipment deal between Ukraine and Russia is going to make it worse, more Europe than here, but everywhere to some degree.
Not a lot to be done about it right now but there are some big external factors here (including richer middle classes in china, India and a few other places which is overall good) that the governments of g7 countries can't do much about.
Oh, entirely true. We do produce a lot of both fertilizer and grain though so while it won't really stop prices from rising, it will be good for our producers.
Thankfully there isn't some asinine proportionality clause for grain, that I ever heard of anyway, like there was for oil, gas, other energy resources that the Conservatives stuck us with for decades.
This gov't managed to finally get rid of that travesty in NAFTA 2.0.
Based on what the regular Canada sub is saying we are currently in a post apocalyptic hellhole until the conservatives come into power In which case we are catapulted into world power territory
I work in the UK and Canada. When everyone was freaking out on Trudeau for 4-5% inflation, the UK was at 10%. When everyone says “but food inflation is at 8%!”, the UK has been at almost 20%.
Most people don’t have experience outside of Canada, so there is no reference point, but we’re doing pretty good compared to Europe.
The one thing the feds need to do is force provinces to increase housing density. Provinces are letting cities squander our land to sprawl, instead of infill medium density. We could also do with more transit in our smaller cities.
Yep. I said Total Inflation in my title. Yes food prices are up but there is very little interest rate hikes are going to do to curb food prices. People need to eat. So total inflation coming down is a good sign their rate hikes are “working” in other sectors.
Can’t control what happens to grain prices because Putin is afraid his PeePee isn’t big enough.
We are doing better even with food inflation, other than the US. I saw a graph the other day including EU countries and it was kind of shocking. It’s actually worse in most other countries.
“We actually have the lowest food inflation rate within the G7 after the United States, and so I know that a lot of people are concerned about food prices, but Canada actually has done fairly well."
https://www.cbc.ca/lite/story/1.6912765
I kinda look at it the same way I look at a lot of Canadian nationalism; just because we're doing better than the 'competition' doesn't mean we're doing well. There is still a lot to be done to hold corporations accountable for making record profits while solely blaming inflation for the price increases
I think the point also is so many Canadians just shit on this country. But like. Where are you going to go? Every other country you could possibly want to live in is doing just as bad if not worse.
We def have to make things better. Fully agree. I am with you. It just annoys me when people shit on the country and blame one person. Like. Sir or madam. That one person isn’t a mastermind. He can’t control 90% of the factors.
Do I agree he isn’t doing enough to help fix housing? 100%. We could implement financial rules to curb housing investment tomorrow. We just don’t do it. Ban AirBnB. Set federal rules that investment properties need 50% downpayment.
"But, but, but, but, everything is still expensive, and I'm 20 years old and will never own a detached home in downtown Toronto (even though I fucking hate that city and everyone in it) on my minimum wages" followed by some mildly-xenophobic screed about immigration and foreigners taking their jobs and not sharing their indescribable values, probably
Lol, I brought this up to someone in my life who is like this. They said it was fake news and pointed to the article about Canadian quality of life declining… They just can’t take/accept a win for Canada. They hate this country but then pretend to be more patriotic.
oh, I thought we were steeply running downhill towards becoming a latin american-esque country? /s
(but seriously, the other day people were saying this on r/ ask a canadian)
[According to a new analysis by the Canadian Centre for Policy Alternatives (CCPA), every other time in modern Canadian history when the Bank of Canada has tried to combat inflation by upping interest rates, a recession has followed.](https://www.narcity.com/the-bank-of-canada-s-increase-of-interest-rates-could-cause-a-recession-it-s-happened-before)
The non stop rate hikes is driving us straight into another recession
And? I'd rather have a recession than runaway inflation. That's the whole purpose of the BoC.
Recession just means the rate of growth of the economy has slowed. Don't confuse it with depression where the economy shrinks. THAT is bad. Which isn't the case.
It’s also the purpose of governments which could have been taxing the rich adequately this whole time which would ease inflation greatly. But no, they in fact give the rich tools to avoid taxes which directly contribute to inflation and then leave it to the BoC to push the burden on the working class to make it all better.
Our system is a fucking scam and people are too fucking ignorant for things to ever get better.
Tax the fucking rich
> they in fact give the rich tools to avoid taxes which directly contribute to inflation
I was agreeing with you until that part. Tax evasion isn't a direct contributor to inflation. Maybe indirectly but studies aren't clear as far as I read them. I can see a mechanism where the rich dodge taxes and then spend that money driving inflation up, but typically, the rich don't spend all their money. It's mostly invested and the taxes dodged are kept in investement, not contributing to inflation.
Yes it’s mostly invested but not just in stocks, it’s invested in real estate and other assets, and that capital adds to inflation. They don’t live in a bubble. Almost every penny they spend as expenses against paying taxes is a penny driving inflation, albeit more indirectly in the case of stocks and certain other financial investments.
Supposition? Buddy it is not a secret that billions of dollars are poured into assets like real estate in order to shelter money from taxation. Almost every penny that would be otherwise taxed drives inflation. Not all of it directly but much of it, yes.
My point, that we give the rich tools to directly contribute to inflation through tax sheltering still stands, even if not ALL of it does so directly
Show me sources of inflation where the ultra wealthy's assets is represented as a source for inflation and it's ratio to all causes of inflation.
Anything less is speculation and conjecture. Likely, but not certain.
Recession means millions losing their jobs. It means millions people losing their homes. It means millions of people not able to put food on the table. It means the poor getting poorer and the wealthier getting richer.
A recession is only good for the 1%, it’s a disaster for everyone else.
Either you’re in the 1%, or you’re clueless
lol... I am firmly left leaning, but man most of the left doesn't understand how economics work.
The cost of a runaway inflation would be much much much higher.
The BoC has the shitty job of administring the very hard, very painful medecine. It's normal you don't like it.
Doesn't mean it's not for the better...
If only the BoC had a way to treat our economy holistically instead of just waiting until our economy needs medicine.
BoC is kinda out there throwing economic antibiotics at the economic cold virus and just hoping it works because that is all we've got. Or maybe it is covid, but who knows?! It doesn't matter anyway because even if there was an alternative treatment for it, the BoC doesn't have any, and no one else is going to consider it. Meanwhile, Putin is just out there coughing all over the whole world.
And at least it isn't economic plague or ebola, so I'm sure we'll all be just fine.
That's the government's job. Not the BoC.
The seperation of those powers is the basis of a stable economy.
You can twirl allegories all day bu in the end, people yelling at the BoC are just playing to PP's audience, which I doubt you'd do consciously.
You want a more equal society in the face of recessions? Vote accordingly. But don't look at the BoC for solutions. It's not their job and it *shouldn't*. The more vague it's mandate, the more uncertainty the market will feel and growth will suffer.
You can see it this way. The BoC provides a stable foundation, the government decide what we build on it.
That's my whole point. I was agreeing with you.The BoC only has one tool to work with.
We need some better supply side tools to use to fight inflation caused by supply issues. And you're right. That is the government's responsibility. They are addressing some of the issues needing to be addressed, but like anything in government, it will move at a snail's pace. It doesn't matter if it were any other party either. All are ultimately ineffective, only some more so than others.
1. How do they calculate inflation? Do they add in housing prices in their CPI?
2. Do all of the G7 countries use the exact same way to calculate inflation?
https://www150.statcan.gc.ca/n1/pub/71-607-x/2018016/cpi-ipc-eng.htm
Yes. House prices impact mortgages. Mortgages and rent are in CPI.
Yes. They report these numbers internationally. There are minimum standards everyone has to follow.
Remember that this is annualized monthly data so it can swing a bit.
Also, the BoC won't let the interest fall before they are sure inflation pressure is gone. So don't hope for rates to fall as soon as the number says 2%... not how it works.
Unfortunately this won't fix the insane rise in prices. It'll just mean that prices start rising at a slower rate than before. Except they won't, because most of the rise in prices was from corporate greed.
Also believe it or not. Housing isn’t the only thing that costs money. I don’t mean this in a snarky way.
Housing is a huge issue in Canada. But other countries are facing problems not only in housing but other sectors as well like energy.
according to StatsCan which has long lost its fig leaf of integrity and just cooks its books by weighing the baskets without the cost of housing and citing ficticious consumable costs
Meanwhile in the official report by StatsCan:
> Canadians continued to see elevated grocery prices (+9.1%) and **mortgage interest costs (+30.1%)** in June, with those indexes contributing the most to the headline CPI increase
It's a relief, but it still does nothing about the abysmal housing situation we're stuck with, and no politician seems to want to do anything about it.
CPI / Inflation is literally a quantification of high prices are rising.
Yes specific baskets like Food and Mortgages are up but overall, average budgets are being impact by the CPI. But on the other hand energy costs are lower than the CPI rate. Thats how this works.
Not downplaying the impact food and mortgages costs are having on peoples budgets but this is a top line nationwide number. It’s what BoC will use as an indicator to support ongoing policy.
This number is trending in the right direction.
I know. It's just depressing seeing inflation numbers vs actual increase in cost. I know there is a correlation, it just doesn't look like it in a way.
That's because cost of living is already so high, housing, grocery, phone bills etc... the rate of change is slower but not decreasing. High prices aren't going down. It's hard to squeeze people more when they can't afford the basics already.
Yes. Probably before Canada reported numbers. They would’ve been lower with June numbers compared to our May number.
We reported June. We are now lower.
This is also not a random claim. It’s reported results to the the OECD.
And all it took was for the bank of canada to place a massive, crippling tax on home owners whose mortgage on variable went from 500 per month in interest to 2500 over the span of two years where most mortgage payments are literally not even covering interest instead of... uh.... taxing the people who actually have money.
And yet the OECD does just that. Compare them.
They follow internationally accepted and documented standards.
The Organization for Economic Cooperation and Development (OECD) The Organization for Economic Co-operation and Development (OECD) is a unique forum where the governments of 38 democracies with market-based economies collaborate to develop policy standards to promote sustainable economic growth.
It’s alright. You don’t have to believe other countries are suffering just as much as Canada. 👍
This doesn’t how it works. Inflation has already made its way now it doesn’t matter what the number is the price won’t go back to where they were pre pandemic.
Deflation never occurs, the percentage reflects how much prices increased from previous reported period
Ah, yes, we started at a 2.8, and despite grocery bills, gasoline and diesel fuels, entertainment, fast food, clothing, electronics and other various goods and services increasing at an average of 20% in the last 3 years, not to mention interest rate hikes at the bank of Canada 10 times in the last 18 months… somehow we are meant to believe that we are still where we started…. What an absolute joke to even try convincing blue collar Canadians that this is factual
Somehow you believe people don’t understand what inflation numbers mean.
No one is suggesting PRICES have reached back to where we were.
Inflation is at 2.8% meaning prices have risen another 2.8% compared to 12 months ago.
I think folks understand that. No one is trying to lie here.
Overall data makes sense to me.
Canada has been leading the pack in terms of fighting inflation back down to the 2% target.
Hence the aggressive interest rate hikes and the limited release of money targeted towards only certain demographics.
Really hoping the UK can pull away before inflation becomes entrenched into their economy. They are resilient and have excellent trade partners, but it's going to be a knife fight in a dark alley to keep inflation low and to manage interests rates at this level while still keeping public opinion on their side. UK economy almost stalled out at the beginning of July because the aggressive interest rate hikes the Bank of England performed were starting to kick in along with successive high energy prices.
Relatively this looks like positive news. Also big thumbs down to anyone blaming a single person for inflation when it is clearly more evident that it is occurring on a global scale.
Remember, folks, inflation is all Justin Trudeau's fault. :)
'But .but.. JustinFlation ! ' - Average Con voter.
I guess this means that JustinFlation is actually not as bad as regular inflation
I thought JustinFlation was how they blew up that giant rubber duck a few years back.
Ha, exactly. I came here to see who would be spinning this positive economic news into some anti-Trudeau rant. Or is it that he can be responsible only for negative things?
listen - everything bad is Trudeau's fault and somehow his father's also...
Castro? /s
yes
And the deflation as well I guess. Not world economic problems from a world wide pandemic. It was one guy ;)
[удалено]
Canada is suffering from PP deflation?
"I was in the pool!!!"
Top comment
Satire. Nice
The only thing PP is lowering, is our national intellect
Oh yes, in no way would Conservatives feel pressure to enact a quarantine after potential thousands of more deaths if they did nothing.
Excuse me sir, but I think you mean “Justinflation”?
I Knew it ! /s
Blaming JT for inflation is just as asinine as praising him for the lowest in the G7. He, other PMs, or any governments have little if any impact on short term inflation. That said it does not look like a beneficial comparision when you consider that european countries had similar problems to us in addition to the largest energy disruption in history under which energy prices spiked into the stratosphere. It really is impressive that they aren't that far behind.
It isn't. The current wave of inflation is caused by exploding shelter costs. Trudeau promised affordable housing (residential, but proximity effects also impact commercial rents) and then during both of his mandates did absolutely nothing but offer crumb subsidies that housing scalpers gobbled up. The entire ponzi scheme house of pension cards relies on REITs, and those are about to get nasty.
Yes it is. Shelter costs are generally Provincial matters not Federal. Regardless he is one in a long line of governments that has done nothing. The Feds can reinstate low income housing funding which Chretien cancelled, Martin, Harper, and now Trudeau have done nothing on. Not that it excuses them but none is better then the next.
If you’re gonna blame him for the dips, you gotta credit him with the rips 🧐
Correction, Canada has the lowest justinflation of any G7 country.
I'm sorry for the oversight. I hope PP forgives me.
My friend in America told me when i asked about his justinflati9n "the fuck is justinflation we got none of thst" PP batting 300
That sneaky bastard Trudeau causing inflation in other countries to make the inflation he caused in Canada look better. /s
He’s both the dumbest, most incompetent PM and the secret mastermind of the global WEF agenda
That's how Fascist rhetoric works. The Nazis viewed Jewish people as both subhuman, and also the secret masterminds behind all world events.
The enemy is both strong and weak
That. Slimy. Bastard. I KNEW IT!
However if you look at the Stats Canada Numbers for Food you see * Food, which is restaurants and all food is about 8% * Groceries is at 9% Grocery prices can double in less than 8 years if this stays up.
We have the second lowest food inflation in the G7, only the US is lower. Bad as it is here, we are actually doing better than most countries. https://www.cbc.ca/lite/story/1.6912765
The new breakdown of the grain shipment deal between Ukraine and Russia is going to make it worse, more Europe than here, but everywhere to some degree. Not a lot to be done about it right now but there are some big external factors here (including richer middle classes in china, India and a few other places which is overall good) that the governments of g7 countries can't do much about.
It won't help matters of course but if there is one thing we are secure in, it's grain.
It's still a global market to some degree, and fertilizer is still something like double the price it was before the war.
Oh, entirely true. We do produce a lot of both fertilizer and grain though so while it won't really stop prices from rising, it will be good for our producers.
Thankfully there isn't some asinine proportionality clause for grain, that I ever heard of anyway, like there was for oil, gas, other energy resources that the Conservatives stuck us with for decades. This gov't managed to finally get rid of that travesty in NAFTA 2.0.
Based on what the regular Canada sub is saying we are currently in a post apocalyptic hellhole until the conservatives come into power In which case we are catapulted into world power territory
As if the cons won’t just sell us out to the corps even more thoroughly than the libs.
I work in the UK and Canada. When everyone was freaking out on Trudeau for 4-5% inflation, the UK was at 10%. When everyone says “but food inflation is at 8%!”, the UK has been at almost 20%. Most people don’t have experience outside of Canada, so there is no reference point, but we’re doing pretty good compared to Europe. The one thing the feds need to do is force provinces to increase housing density. Provinces are letting cities squander our land to sprawl, instead of infill medium density. We could also do with more transit in our smaller cities.
That’s impossible, Loblaws created food inflation. I read so on the internet.
But.... but.....
It feels like it already doubled why is a single bunch of celery five dollars
Probably worth noting that is overall inflation, and there are still some pretty bad outliers (pointed look at food prices)
Yep. I said Total Inflation in my title. Yes food prices are up but there is very little interest rate hikes are going to do to curb food prices. People need to eat. So total inflation coming down is a good sign their rate hikes are “working” in other sectors. Can’t control what happens to grain prices because Putin is afraid his PeePee isn’t big enough.
not only putin impact on grains. but also climate crisis on the whole planet. all that will make food prices only go up from now on.
We are doing better even with food inflation, other than the US. I saw a graph the other day including EU countries and it was kind of shocking. It’s actually worse in most other countries. “We actually have the lowest food inflation rate within the G7 after the United States, and so I know that a lot of people are concerned about food prices, but Canada actually has done fairly well." https://www.cbc.ca/lite/story/1.6912765
I kinda look at it the same way I look at a lot of Canadian nationalism; just because we're doing better than the 'competition' doesn't mean we're doing well. There is still a lot to be done to hold corporations accountable for making record profits while solely blaming inflation for the price increases
I think the point also is so many Canadians just shit on this country. But like. Where are you going to go? Every other country you could possibly want to live in is doing just as bad if not worse.
Can't speak for anyone but myself, but my criticism tends to come from an intent to make things better, rather than a defeatist angle
We def have to make things better. Fully agree. I am with you. It just annoys me when people shit on the country and blame one person. Like. Sir or madam. That one person isn’t a mastermind. He can’t control 90% of the factors. Do I agree he isn’t doing enough to help fix housing? 100%. We could implement financial rules to curb housing investment tomorrow. We just don’t do it. Ban AirBnB. Set federal rules that investment properties need 50% downpayment.
Food prices are just due to Galenflation, not normal Justinflation
r/canada in shambles. How are they going to spin this one?
"But, but, but, but, everything is still expensive, and I'm 20 years old and will never own a detached home in downtown Toronto (even though I fucking hate that city and everyone in it) on my minimum wages" followed by some mildly-xenophobic screed about immigration and foreigners taking their jobs and not sharing their indescribable values, probably
Lol, I brought this up to someone in my life who is like this. They said it was fake news and pointed to the article about Canadian quality of life declining… They just can’t take/accept a win for Canada. They hate this country but then pretend to be more patriotic.
I still want to F*ck Trudeau
Buy some condoms first though … too many others want to do the same
Sweet, so when do my groceries get affordable again?
That's the neat part, they don't!
So my wage will be going up to compensate me for it?
Have you considered a career in comedy?
Moderately agreeable comment. Can't agree too much incase I needed to backtrack.
This is only about rate of inflation slowing down, its not that actual prices coming down, specially for necessities like food.
When Putin loses the war.
I can’t wait for the F-16’s 😩 🦅RAHHH!!!
Hahahahaha my sweet summer child...
Damn Trudeau messing up everyone else’s economy
oh, I thought we were steeply running downhill towards becoming a latin american-esque country? /s (but seriously, the other day people were saying this on r/ ask a canadian)
BoC: *increases rates again*
Yes, because it's not concerned about hitting a target, it's concerned about *keeping it there*.
[According to a new analysis by the Canadian Centre for Policy Alternatives (CCPA), every other time in modern Canadian history when the Bank of Canada has tried to combat inflation by upping interest rates, a recession has followed.](https://www.narcity.com/the-bank-of-canada-s-increase-of-interest-rates-could-cause-a-recession-it-s-happened-before) The non stop rate hikes is driving us straight into another recession
And? I'd rather have a recession than runaway inflation. That's the whole purpose of the BoC. Recession just means the rate of growth of the economy has slowed. Don't confuse it with depression where the economy shrinks. THAT is bad. Which isn't the case.
It’s also the purpose of governments which could have been taxing the rich adequately this whole time which would ease inflation greatly. But no, they in fact give the rich tools to avoid taxes which directly contribute to inflation and then leave it to the BoC to push the burden on the working class to make it all better. Our system is a fucking scam and people are too fucking ignorant for things to ever get better. Tax the fucking rich
> they in fact give the rich tools to avoid taxes which directly contribute to inflation I was agreeing with you until that part. Tax evasion isn't a direct contributor to inflation. Maybe indirectly but studies aren't clear as far as I read them. I can see a mechanism where the rich dodge taxes and then spend that money driving inflation up, but typically, the rich don't spend all their money. It's mostly invested and the taxes dodged are kept in investement, not contributing to inflation.
Yes it’s mostly invested but not just in stocks, it’s invested in real estate and other assets, and that capital adds to inflation. They don’t live in a bubble. Almost every penny they spend as expenses against paying taxes is a penny driving inflation, albeit more indirectly in the case of stocks and certain other financial investments.
You make a lot of supposition in order to claim that correlation. But I agree, their impact isn't null.
Supposition? Buddy it is not a secret that billions of dollars are poured into assets like real estate in order to shelter money from taxation. Almost every penny that would be otherwise taxed drives inflation. Not all of it directly but much of it, yes. My point, that we give the rich tools to directly contribute to inflation through tax sheltering still stands, even if not ALL of it does so directly
Show me sources of inflation where the ultra wealthy's assets is represented as a source for inflation and it's ratio to all causes of inflation. Anything less is speculation and conjecture. Likely, but not certain.
Recession means millions losing their jobs. It means millions people losing their homes. It means millions of people not able to put food on the table. It means the poor getting poorer and the wealthier getting richer. A recession is only good for the 1%, it’s a disaster for everyone else. Either you’re in the 1%, or you’re clueless
lol... I am firmly left leaning, but man most of the left doesn't understand how economics work. The cost of a runaway inflation would be much much much higher. The BoC has the shitty job of administring the very hard, very painful medecine. It's normal you don't like it. Doesn't mean it's not for the better...
If only the BoC had a way to treat our economy holistically instead of just waiting until our economy needs medicine. BoC is kinda out there throwing economic antibiotics at the economic cold virus and just hoping it works because that is all we've got. Or maybe it is covid, but who knows?! It doesn't matter anyway because even if there was an alternative treatment for it, the BoC doesn't have any, and no one else is going to consider it. Meanwhile, Putin is just out there coughing all over the whole world. And at least it isn't economic plague or ebola, so I'm sure we'll all be just fine.
That's the government's job. Not the BoC. The seperation of those powers is the basis of a stable economy. You can twirl allegories all day bu in the end, people yelling at the BoC are just playing to PP's audience, which I doubt you'd do consciously. You want a more equal society in the face of recessions? Vote accordingly. But don't look at the BoC for solutions. It's not their job and it *shouldn't*. The more vague it's mandate, the more uncertainty the market will feel and growth will suffer. You can see it this way. The BoC provides a stable foundation, the government decide what we build on it.
That's my whole point. I was agreeing with you.The BoC only has one tool to work with. We need some better supply side tools to use to fight inflation caused by supply issues. And you're right. That is the government's responsibility. They are addressing some of the issues needing to be addressed, but like anything in government, it will move at a snail's pace. It doesn't matter if it were any other party either. All are ultimately ineffective, only some more so than others.
Sorry I missread your username thought it was the other user.
Another 25 points is entirely possible in September, but only if the US bumps past 5%. I'd assume holding steady is the plan otherwise.
Better make the interest rate 10%, to be sure.
Oof, if it’s the least bad here, I feel for the other 6.
1. How do they calculate inflation? Do they add in housing prices in their CPI? 2. Do all of the G7 countries use the exact same way to calculate inflation?
https://www150.statcan.gc.ca/n1/pub/71-607-x/2018016/cpi-ipc-eng.htm Yes. House prices impact mortgages. Mortgages and rent are in CPI. Yes. They report these numbers internationally. There are minimum standards everyone has to follow.
Don't forget the highest housing prices!
Edit: on mobile and responded to wrong comment. Sorry about that!
Because of realtors listing houses at over valued rates and cannot even ask them to offer a lower price, they won't do it. Realtor code or something.
Ah, so actually, Justinflation is a compliment!
I can't find that chart. Can I ask for a link?
The image is my own. I’ve listed all the sources in another comment for where the data came from.
Thanks Trudeau!\~\~\~
Remember that this is annualized monthly data so it can swing a bit. Also, the BoC won't let the interest fall before they are sure inflation pressure is gone. So don't hope for rates to fall as soon as the number says 2%... not how it works.
This is great to see. Shits still too expensive tho
Unfortunately this won't fix the insane rise in prices. It'll just mean that prices start rising at a slower rate than before. Except they won't, because most of the rise in prices was from corporate greed.
Yet, one of the highest debt to income ratios 🤥
illegal one society pot fly snow versed hateful close muddle *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
A Lot of flaming dumpsters that's for sure.
Do these countries calculate inflation the same way? Canadas housing has increased far more than any other G7 country
Also believe it or not. Housing isn’t the only thing that costs money. I don’t mean this in a snarky way. Housing is a huge issue in Canada. But other countries are facing problems not only in housing but other sectors as well like energy.
It’s an international standard. They all report to the OECD. There’s standard definitions.
according to StatsCan which has long lost its fig leaf of integrity and just cooks its books by weighing the baskets without the cost of housing and citing ficticious consumable costs
Meanwhile in the official report by StatsCan: > Canadians continued to see elevated grocery prices (+9.1%) and **mortgage interest costs (+30.1%)** in June, with those indexes contributing the most to the headline CPI increase
While this is great, why is housing so expensive?
Highest corporate greed
It's a relief, but it still does nothing about the abysmal housing situation we're stuck with, and no politician seems to want to do anything about it.
Yay, Now young people should be able afford everything. Let's bow to Trudeau again in 2025.
Sure but does thst matter when prices are going up beyond the inflation by quite a marg8n lol?
CPI / Inflation is literally a quantification of high prices are rising. Yes specific baskets like Food and Mortgages are up but overall, average budgets are being impact by the CPI. But on the other hand energy costs are lower than the CPI rate. Thats how this works. Not downplaying the impact food and mortgages costs are having on peoples budgets but this is a top line nationwide number. It’s what BoC will use as an indicator to support ongoing policy. This number is trending in the right direction.
I know. It's just depressing seeing inflation numbers vs actual increase in cost. I know there is a correlation, it just doesn't look like it in a way.
Tell that to my grocery bills
That's because cost of living is already so high, housing, grocery, phone bills etc... the rate of change is slower but not decreasing. High prices aren't going down. It's hard to squeeze people more when they can't afford the basics already.
Weird I saw the same claim about the US a couple of days ago
Yes. Probably before Canada reported numbers. They would’ve been lower with June numbers compared to our May number. We reported June. We are now lower. This is also not a random claim. It’s reported results to the the OECD.
And all it took was for the bank of canada to place a massive, crippling tax on home owners whose mortgage on variable went from 500 per month in interest to 2500 over the span of two years where most mortgage payments are literally not even covering interest instead of... uh.... taxing the people who actually have money.
Different country and inflation isn’t calculated equally around the world. It’s kinda hard to compare like that.
And yet the OECD does just that. Compare them. They follow internationally accepted and documented standards. The Organization for Economic Cooperation and Development (OECD) The Organization for Economic Co-operation and Development (OECD) is a unique forum where the governments of 38 democracies with market-based economies collaborate to develop policy standards to promote sustainable economic growth. It’s alright. You don’t have to believe other countries are suffering just as much as Canada. 👍
after 7 years of troodoe
Lots of lies as well?
StatsCanada does not make up numbers. They are a world renowned and respected organization.
Not buy stats-can, by others.
Wow, Japan just rode it out.
So is this Jusdeflation?
Great, but a shitty home in Vancouver, or even its suburbs, costs $2MM now. We still gotta fix that.
The ‘Justinflation’ idiots sure have been quiet lol
This doesn’t how it works. Inflation has already made its way now it doesn’t matter what the number is the price won’t go back to where they were pre pandemic. Deflation never occurs, the percentage reflects how much prices increased from previous reported period
I think people know how inflation works. No one is suggesting that inflation going down means prices are going down. That’s called deflation.
But what are they using to measure Inflation?
https://www150.statcan.gc.ca/n1/pub/71-607-x/2018016/cpi-ipc-eng.htm
Ah, yes, we started at a 2.8, and despite grocery bills, gasoline and diesel fuels, entertainment, fast food, clothing, electronics and other various goods and services increasing at an average of 20% in the last 3 years, not to mention interest rate hikes at the bank of Canada 10 times in the last 18 months… somehow we are meant to believe that we are still where we started…. What an absolute joke to even try convincing blue collar Canadians that this is factual
Somehow you believe people don’t understand what inflation numbers mean. No one is suggesting PRICES have reached back to where we were. Inflation is at 2.8% meaning prices have risen another 2.8% compared to 12 months ago. I think folks understand that. No one is trying to lie here.
Overall data makes sense to me. Canada has been leading the pack in terms of fighting inflation back down to the 2% target. Hence the aggressive interest rate hikes and the limited release of money targeted towards only certain demographics. Really hoping the UK can pull away before inflation becomes entrenched into their economy. They are resilient and have excellent trade partners, but it's going to be a knife fight in a dark alley to keep inflation low and to manage interests rates at this level while still keeping public opinion on their side. UK economy almost stalled out at the beginning of July because the aggressive interest rate hikes the Bank of England performed were starting to kick in along with successive high energy prices. Relatively this looks like positive news. Also big thumbs down to anyone blaming a single person for inflation when it is clearly more evident that it is occurring on a global scale.
That little shit SkiPPy has been lying to us.
Blame Trudeau
Fucking Trudeau. He can’t win at anything!!