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The Inflation & Cost of Living Complaints Thread

Warhippy

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nuckin_futz All-Star

nuckin_futz

Posted
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Canada September CPI 3.8% versus 4.0% expected

  • Details of Canada CPI for the month of September 2023
Canada CPI chart
 
  • Prior month 4.0%
  • CPI MoM -0.1% versus 0.1% expected
  • Prior MoM 0.4%

Core measures:

  • BOC core YoY 2.8% versus 3.3% last month
  • BOC core MoM -0.1% versus 0.1% last month
  • CPI median 3.8% versus 4.1% last month
  • CPI trim 3.7% versus 3.9% last month
  • CPI common 4.4% versus 4.8% last month

The year-over-year deceleration was broad-based, Statistics Canada said, stemming from lower prices for some travel-related services, durable goods and groceries. The improvements come despite a 7.5% y/y rise in gasoline prices and +0.8% m/m. That rise has unwound in October so there's some good news in the pipeline.

 
 

Groceries remain a problem point with prices up 5.8% y/y but that has decelerated from +6.9% y/y as base year effects lower meat and dairy inflation.

Canada CPI Sept 2023
 

A big y/y decline was in airfares, which fell 21.1% in September as flight capacities has improved.

 

USD/CAD jumped on this report, in part because it's a dovish reading that should lead the BOC to cool its recent hawkish rhetoric at next week's meeting. The pair rose about 50 pips on the headline. The other side of the jump is because the US reported a very strong retail sales report, leading to broad USD strength.

 

Pricing for a hike next week is down to 22% and the March meeting now prices in 18 bps of hikes from 24 bps last week.

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Gurn All-Star

Gurn

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On 10/12/2023 at 1:26 PM, Gurn said:

On the old site, I'd mentioned that Freshco 4ltr pails of ice milk were $5 bucks-about 2 years ago, and had been keeping track.

Those same pails are now $7.29    or about 45.5% more.

Update:

Now Tuesday, 5 days after the quoted post.

 

5 days.....

 

Now priced at $7.99, up 9.59%---- in 5 days.

 

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King Heffy All-Star

King Heffy

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On 9/18/2023 at 6:04 PM, Hogs and Podz said:

I understand... But truth is, if you're not a person that puts themselves at risk (getting loaded and stumbling around down an alley at 3 in the morning or buy drugs off some sketchy local)... We as North Americans have been feed a bunch of fear news news about the 3rd World countries our while lives.  It's way safer than we've been lead to believe.  As far as learning a bew language.... Why not?  It ain't easy but it's super rewarding.  Since your wife is el Salvadoran, you'll have all the support you need.  I'm in Nicaragua... On the outskirts of a surfing/fishing village.  Live the lifestyle here.  Don't get me wrong, there are dangers... You just have to be smart about it.  It's more to do with unfamiliarity.... It takes time.  

I'm definitely at the point where this is on the table, albeit in Mexico city.  As great as BC is, if I ever had to move out of the current apartment the rent increase would be crippling.

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the destroyer of worlds All-Star

the destroyer of worlds

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I thought this fits more in here.  Workers getting a big pay jump.

 

Autoworkers reach a deal with Ford, a breakthrough toward ending strikes against Detroit automakers

The four-year deal still has to be approved by 57,000 union members

 

https://www-cbc-ca.cdn.ampproject.org/v/s/www.cbc.ca/amp/1.7008394?amp_gsa=1&amp_js_v=a9&usqp=mq331AQIUAKwASCAAgM%3D#amp_tf=From %1%24s&aoh=16983843604195&csi=1&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.cbc.ca%2Fnews%2Fcanada%2Fwindsor%2Fuaw-ford-deal-ap-1.7008394

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aGENT All-Star

aGENT

Posted
Posted
On 10/26/2023 at 10:30 PM, the destroyer of worlds said:

I thought this fits more in here.  Workers getting a big pay jump.

 

Autoworkers reach a deal with Ford, a breakthrough toward ending strikes against Detroit automakers

The four-year deal still has to be approved by 57,000 union members

 

https://www-cbc-ca.cdn.ampproject.org/v/s/www.cbc.ca/amp/1.7008394?amp_gsa=1&amp_js_v=a9&usqp=mq331AQIUAKwASCAAgM%3D#amp_tf=From %1%24s&aoh=16983843604195&csi=1&referrer=https%3A%2F%2Fwww.google.com&ampshare=https%3A%2F%2Fwww.cbc.ca%2Fnews%2Fcanada%2Fwindsor%2Fuaw-ford-deal-ap-1.7008394

 

Now the rest of us need one...

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The Arrogant Worms All-Star

The Arrogant Worms

Posted
Posted

Canada's inflation rate cools to 3.1% but the cost of living keeps going up

https://www.cbc.ca/news/business/canada-inflation-october-1.7034686

 

Canada's consumer price index rose by 3.1 per cent in the year up to October, down from 3.8 per cent the previous month but in line with what economists were expecting.

 

Statistics Canada reported Tuesday that the biggest reason for the deceleration in the cost of living was a drop in the cost of gasoline, which declined by 6.4 per cent during the month of October alone, and is down by 7.8 per cent compared to where prices were a year ago.

 

If gasoline is stripped out of the numbers, the inflation rate would have been 3.6 per cent in October. That's slightly lower than the 3.7 per cent non-gasoline inflation rate clocked the month before.

 

Food prices increased at a 5.4 per cent pace over the past year. While that's still higher than the overall inflation rate, it's down from the 5.8 per cent annual pace seen in September.

 

Grocery prices have now decelerated for four months in a row, but as TD Bank economist Leslie Preston noted, consumers can be forgiven for not really feeling any tangible relief at the checkout line.

 

"Slower growth in prices may be imperceptible to consumers who are still paying more than 20 per cent more for a basket of groceries relative to three years ago — the biggest such increase in 40 years," she said.

 

While the pain at the cash register for staples like food and gasoline is getting comparatively better, plenty of other aspects that contribute to the cost of living continue to increase at an eye-watering level.

 

Overall, shelter costs are up by more than six per cent in the past year. That's about twice the overall inflation rate.

 

A big reason for that is rent which keeps going up at its fastest pace in years. The data agency says the typical cost of rent went up by 8.2 per cent in the past year. That's up from 7.3 per cent in September.

 

The costs associated with owning are no better, however, with mortgage interest costs up by more than 30 per cent in the past year. And property taxes increased by 4.9 per cent in the past year. That's up from 3.6 per cent this time last year, and it's also the biggest one-year increase in property taxes on records dating back to 1992.

 

If one were to strip mortgage costs out of the numbers, the inflation rate would be 2.2 per cent and if one were to strip out shelter entirely, it would be 1.9 per cent.

 

Economist Tu Nguyen with consultancy RSM Canada Inc. says the shelter costs are eating a larger and larger chunk of household budgets, leaving less money for everything else and bringing down inflation in the process.

 

"On a per capita basis, consumer spending has actually dropped," she said. "Households who get hit with higher mortgage payments find themselves cutting back on discretionary spending."

 

She says the data give the Bank of Canada more than enough of an excuse to stop any further rate hikes.

 

"The CPI report is the latest sign of a cooling economy that should make the Bank of Canada feel comfortable keeping the policy rate unchanged at the December announcement. At this point, the Bank can sit back and let the forces of monetary policy work its way through the economy."

 

 

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Barnstorm All-Star

Barnstorm

Posted
Posted

Watching the news (depressing) and food insecurity across this country is increasing. Predictions say next year prices will continue to inflate at a high rate. 
 

Northern communities and the children there are particularly feeling the grind. Studies indicate those children that aren’t been fed well or enough are shorter by 2 cm than those eating a proper diet. 
 

Here’s the kicker… a regular can of Campbells Chunky soup was shown in a northern community store on sale for $11.49. How could anyone afford to feed even a small family ? It’s not like they have the option to grow much of their own food. 
 

This country is in worse trouble than most people realize. 

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Boudrias All-Star

Boudrias

Posted
Posted
11 hours ago, Barnstorm said:

Watching the news (depressing) and food insecurity across this country is increasing. Predictions say next year prices will continue to inflate at a high rate. 
 

Northern communities and the children there are particularly feeling the grind. Studies indicate those children that aren’t been fed well or enough are shorter by 2 cm than those eating a proper diet. 
 

Here’s the kicker… a regular can of Campbells Chunky soup was shown in a northern community store on sale for $11.49. How could anyone afford to feed even a small family ? It’s not like they have the option to grow much of their own food. 
 

This country is in worse trouble than most people realize. 

The debt crisis is already on us. Canadians should actually sit down and run the numbers. The social network will/is imploding. Trudeau and his crew have been running this country for 8 years and yet many people cannot accept/understand the fallout from his mistakes. Little Norway has a investment endowment of 

+ $1.4 trillion. Oddly roughly the same amount as our federal government debt. Progressive thought feels good until the money runs out. BS reigns supreme until people simply stop listening. 

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Northern_Nuck Top 6

Northern_Nuck

Posted
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1 hour ago, Boudrias said:

The debt crisis is already on us. Canadians should actually sit down and run the numbers. The social network will/is imploding. Trudeau and his crew have been running this country for 8 years and yet many people cannot accept/understand the fallout from his mistakes. Little Norway has a investment endowment of 

+ $1.4 trillion. Oddly roughly the same amount as our federal government debt. Progressive thought feels good until the money runs out. BS reigns supreme until people simply stop listening. 

The crazy thing is people will defend their team blindly no matter how much they fail. But the failure is on all of us for not seeing that the whole system is broke. 

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bishopshodan All-Star

bishopshodan

Posted
Posted
Just now, Bob Long said:

 

The freest ever. Convoys for everyone.

 

My fav about the convoy was that some people called it the Karen Convoy.

 

I usually dont like that term ( Karen) ....but the thought of bunch of tough truckers demanding to speak the manager...well, its just too funny of a diss.

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Bob Long All-Star

Bob Long

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Posted
2 minutes ago, bishopshodan said:

 

My fav about the convoy was that some people called it the Karen Convoy.

 

I usually dont like that term ( Karen) ....but the thought of bunch of tough truckers demanding to speak the manager...well, its just too funny of a diss.

 

But it was peaceful,  dude. Even that guy that pooped on someone's lawn, he was nice about it.

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Boudrias All-Star

Boudrias

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12 minutes ago, Northern_Nuck said:

The crazy thing is people will defend their team blindly no matter how much they fail. But the failure is on all of us for not seeing that the whole system is broke. 

Within a fiscal framework the needs in society can be weighed and decisions made. If those decisions are not being realized then changes can be made. The political decisions can be conservative or progressive but the financial accountability cannot be ignored. The failures in the Trudeau government are obvious for most to see. PP has not had his kick at the can yet but it appears he will. Will he ignore the accountability that has to happen? I doubt whoever is in power will have any choice.  

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bishopshodan All-Star

bishopshodan

Posted
Posted (edited)

I keep reading and hearing ' the Trudeau government'

 

Could be a good sign for Libs? Maybe all the hate is just directed at the one handsome hair having kid that has over stayed his welcome?

 

If JT steps down and Freeland takes over... do they close the gap a bit?

Edited by bishopshodan
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