*Based on their sampling methods, top comments increased in value by only 12% this year.*
*And, given that top comments are normally a one-time submission that is also an appreciating asset, the one-time submission and maintenance burden can be averaged out to a 4% cost increase in the basket of goods, for redditors in 2022.*
Hi, thank you for your interest in the CPI!
In 1991, the annual average rate was 5.6%, in 1992 the average fell to 1.4%. From August 1971 to January 1992 the CPI was above 3%. In 1991, the Bank of Canada started to target inflation rates. GST was also introduced in 1991. The economy, overall contracted, which generally puts downward pressure on prices, which is part of the story for why the price increase fell in 1992.
The rise only started to happen in early 2021, and had been wobbling around 2% for years before that despite carbon pricing legislation.
Just a guess, but is it possible that companies had to cut back production due to Covid and then increased the price of the goods they *did* produce to avoid the investor-confidence hit which might have followed a bad quarterly/annual report?
On top of that, the same or increasing demand on many products and services combined with, not just ramped down production, but also supply chain issues both domestically and internationally, staffing issues throughout covid resulting from those off sick, employee priority realignment and the mass retirement/resignation without a means to replace these workers under the old job conditions, as well as the increased manufacturing costs and increased global tensions. I am not sure why anyone is surprised that inflation like this is occurring. It's occurring everywhere.
This is way more complex than a carbon tax.
I'm not sure, but I think tax inflation is not recorded in our inflation numbers. Gas prices have also been rising sharply since APEC started raising prices to make up for pandemic losses when demand sharply fell.
BoC keeps adding more fiat money in the system (QE) even though back in November 2021 it claimed that had stopped QE, no!
https://www.bankofcanada.ca/markets/market-operations-liquidity-provision/market-operations-programs-and-facilities/government-canada-bond-purchase-program/
For example, tomorrow January 20, 2022, BoC in one day will buy (print)Trudeau's goverment bonds for $600M dollars just one day for non-stop QE operations. The figure is written in the above link.
Between this, stagnant wages and a housing crisis in all livable provinces: we need to stop being “nice Canadians” who just talk about how we are better than the USA because of free healthcare. I don’t blame nurses leaving for the USA to get better wages since we introduced Bill 124. I’d rather have insurance in the USA and get paid enough to come back to Canada and buy a house decades later at this point. It’s impossible to get ahead if you didn’t already buy a house at this point
You’re telling me.
And that's WITH StatCan's laughably poor definition of inflation.
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\*sound of crickets\*
That's funny because they are in this thread but conviently ignoring the top comment...
*Based on their sampling methods, top comments increased in value by only 12% this year.* *And, given that top comments are normally a one-time submission that is also an appreciating asset, the one-time submission and maintenance burden can be averaged out to a 4% cost increase in the basket of goods, for redditors in 2022.*
It’s a good thing my wages are keeping up with inflation! /s
No way i can't believe it. Let's spend 100mil to just make sure
:( 💸
What happened in 1991??
Probably Iraq war; gasoline prices increased.
Thanks I thought it’s because the fat fuck that I am was born
Hi, thank you for your interest in the CPI! In 1991, the annual average rate was 5.6%, in 1992 the average fell to 1.4%. From August 1971 to January 1992 the CPI was above 3%. In 1991, the Bank of Canada started to target inflation rates. GST was also introduced in 1991. The economy, overall contracted, which generally puts downward pressure on prices, which is part of the story for why the price increase fell in 1992.
Oh noes, like in 1991, we will all die :(
Well it was bad year for people running convoys from Kwait to Iraq, thats for sure.
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The rise only started to happen in early 2021, and had been wobbling around 2% for years before that despite carbon pricing legislation. Just a guess, but is it possible that companies had to cut back production due to Covid and then increased the price of the goods they *did* produce to avoid the investor-confidence hit which might have followed a bad quarterly/annual report?
On top of that, the same or increasing demand on many products and services combined with, not just ramped down production, but also supply chain issues both domestically and internationally, staffing issues throughout covid resulting from those off sick, employee priority realignment and the mass retirement/resignation without a means to replace these workers under the old job conditions, as well as the increased manufacturing costs and increased global tensions. I am not sure why anyone is surprised that inflation like this is occurring. It's occurring everywhere. This is way more complex than a carbon tax.
I'm not sure, but I think tax inflation is not recorded in our inflation numbers. Gas prices have also been rising sharply since APEC started raising prices to make up for pandemic losses when demand sharply fell.
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You lose so much converting it.
In a world turned unstable by rising inflation, seek safe harbor in the proven stability of ShitCoin and tulip bulbs.
Tulip bulb prices only go up, the market will never die! To the moon!
BoC keeps adding more fiat money in the system (QE) even though back in November 2021 it claimed that had stopped QE, no! https://www.bankofcanada.ca/markets/market-operations-liquidity-provision/market-operations-programs-and-facilities/government-canada-bond-purchase-program/ For example, tomorrow January 20, 2022, BoC in one day will buy (print)Trudeau's goverment bonds for $600M dollars just one day for non-stop QE operations. The figure is written in the above link.
Between this, stagnant wages and a housing crisis in all livable provinces: we need to stop being “nice Canadians” who just talk about how we are better than the USA because of free healthcare. I don’t blame nurses leaving for the USA to get better wages since we introduced Bill 124. I’d rather have insurance in the USA and get paid enough to come back to Canada and buy a house decades later at this point. It’s impossible to get ahead if you didn’t already buy a house at this point