Canada’s annual Inflation rate crept upward to 3.3% in July, an increase from 2.8% in June, and once again outside the Bank of Canada’s target rate of 2% with a range of 1% to 3%.
The Consumer Price Index (CPI) rose 3.3% year over year in July. On a year-over-year basis, energy prices fell less in July (-8.2%) compared with June (-14.6%). That’s because oil hit an all-time high 12 months ago, so now inflation will resume its rise
Prices for gasoline fell 12.9% year over year in July, compared to a 21.6% decline in June. This was the result of a base-year effect, with prices remaining nearly unchanged on a month-over-month basis in July 2023.
The real proof that inflation is still climbing, will come in a few weeks when the Bank of Canada announces another interest rate increase. Don’t expect the Liberals to brag about their “measures working”, the way they did last month.
Food and gasoline … not to mention taxes and utilities … here in N. CA have inflated beyond affordability for everyone not making Google wages.
Inflation increasing at 3.3%, in what alternate universe might that be?
Mortgage rates set to rise again. According to Ron Butler, renewals in September may see rates between 6 and 7%.
The inflation is caused by the current government of Canada.
There’s no mystery, no question , no but, but, but, about it.
It is as though all those miseducated idiots that are running and administering this government are willfully ignorant of what is happening, though it would not be beyond the damn fascists to do the destruction by design.
The global socialist/fascist cabal of WEF has the idiot in charge by the ball. He is willing participant in the destruction of Alberta, of course with the ever helpful propaganda of the media cartel.
The unfortunate part is that the ignorant populace will elect them again and again.
You really are not to bright are you?
The rate of increase has decreased not the overall inflation we are experiencing. That rate is trending upward & upward and has been for two years now.
And the phrase: “nothing burger” is a phrase mental midgets use when they don’t have a clue.
It’s a re-inflation of dis-inflation.
inflation is at 35 to 40%….. one hamburger and a drink at the local burger joint ….$11 ….3 years ago $5
So long as money counterfeiters exist, like the public-sounding yet privately-owned Bank of Canada and the Federal Reserve, there will be inflation. These criminal organizations create inflation by design – generally targeted at around 1% annually, as though that were a good thing. Purposely creating inflation should be cause for imprisonment, or worse.
The POS’s behind this scam create problems for the common man, and solve none. For which they richly reward themselves and their friends.
The scum in gov’t, including the vast majority of those BEHIND the public-facing politicians are in bed with these banksters, and ALWAYS HAVE BEEN. The MSM, puppets in gov’t, banksters, and “globalist” NGOs and corporations are just different tentacles of the same octopus.
Focusing on any specific one as though it, or its current spokesman, was the root of the problem is akin to polishing a turd to clean it. The problem is systemic – by design. This is a matrix – a prison. There is no saving it, nor should there be any attempt to do so. It is evil by design and must be burned to the ground.
Ideally with all its inhabitants.
I may have written this before but it bears repeating. If you print money based on the amount of money in circulation each year, you are doomed to exponentially depreciate your currency over time. Printing 1% more each year gives you about 450 years but printing 5% gives you less than 50 years before your currency is worth less than 1% of its starting value. The USA has printed 80% of all its currency since 2019. You can’t tame inflation while you’re printing (creating) so much money.
Steve, constantly increasing the money supply is the primary cause of inflation. Too much money chasing the same number of goods.
Many years a ago a 2% a year inflation was considered dangerous, now we would wish for that.
The headline inflation number will be even higher when the August numbers are released UNLESS PRICES DROP DURING THE MONTH OF AUGUST 2023. In August 2022 the CPI monthly change was -0.3%. That is, the month over month inflation one year ago was negative. Therefore, the year over year CPI will be higher one month from now unless the August 2023 CPI change is -0.3% or less.