After the elation of the budget, we now come to the Consumer Price Index for February, and to quote Frank Barrone, Oh Crap! Yup the CPI elevator is going up again. It is now up to 2.0% year over year up from 1.2% last month (year over year) . That is one hell of a jump, and guess what is to blame? Gasoline, my friends, yes indeed, the black gold that is causing the Canadian Economy to go into hyperdrive is also driving up the consumer price index.
Surprisingly, the CPI in Ontario is only 1.6%, which is interesting, given our gas prices shot through the roof (up 9.8% from January to February) thanks to the “shortages” caused by that refinery fire (I note gas prices are still around $1/liter these days). A good woodworker uses a gouge, but I didn’t know it was part of standard business practices, too.
Why should you care? No, it’s not inflationary yet, but if that comes, interest rates go UP, and then we’ll see whether the U.S. economy can withstand high interest rates. My guess is NO, and the rest of the world is going to pay for that one, too.
Oh, and on a different note, remember to Give Blood the next time you can. I am supposed to give today, and this will make my 8th donation (which isn’t much, considering the last time I gave there, a chap had given almost 100 times). This is a gift that helps people you don’t even know, and you are helping them LIVE, so it is an amazing gift, give, if you can.
Inflation and CPI for 2007
- Consumer Price Index Up! December 2006 - First time I wrote about this topic.
- Inflation at 1.2% in Canada for January 2007
- So much for the good news… CPI for February 2007
- May 2007 Inflation: Steady at 2.2%
- Inflation Steady at 2.2% for June 2007
- Inflation and CPI Under Control For July 2007
- Inflation at 1.7%, Holy Cow! August 2017
- Flash: Inflation in September at 2.5%
- CPI for October 2007 at 2.4%
- Inflation at 2.5% Core Inflation still in check? November 2007
- Last Year’s Inflation 2007 Officially 2.2%
