Canada’s inflation rate decelerated to 3.4 per cent in the year up to May, Statistics Canada said Tuesday, led by sharply lower gasoline prices.
But beneath the headline slowdown in consumer prices, many facets of the cost of living are still increasing at an eye-watering pace.
Grocery prices went up at an almost nine per cent pace.
A deflationary environment is very bad generally because it incentivizes people to not spend money which slows down the economy and hurts everyone.
The healthier thing to do is for wages to rise. Wages are currently rising but slower than inflation (2.9% yoy as of january), and that should make you mad.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !canada@lemmy.ca
Sooo… by slowdown they mean prices will stop rising, but what about lowering?
Did the price of bread go down after they were caught?
Which time?
The expense and shame of being caught meant they had to increase it another 10%.
A deflationary environment is very bad generally because it incentivizes people to not spend money which slows down the economy and hurts everyone.
The healthier thing to do is for wages to rise. Wages are currently rising but slower than inflation (2.9% yoy as of january), and that should make you mad.
I’m sure if we ask the corporations nicely, they’ll lower their prices…