For those that have not followed me since 2005, allow me to say, I told them so. Back in 2009, I warned Inflation was coming with all this stimulation, and here it comes (in 2021). Mark my words this is only the beginning.
Stats Canada thinks:
Year-over-year consumer price growth (+3.4%) in April rose at its fastest pace since May 2011 amid the third wave of the COVID-19 pandemic, mostly because prices fell sharply during the early months of the pandemic. As some regions extended restrictions to limit the spread of COVID-19, causing employment losses for some Canadians, prices grew 0.5% month over month in April 2021, the same growth rate as in March 2021.
Prices rose in every major component on a year-over-year basis. Transportation prices (+9.4%) increased in April, mainly because of higher gasoline prices compared with April 2020.From Stats Canada Consumer Price Index, April 2021
Funny no mention of the Trillions being poured into the Economy by every Government world-wide? Maybe they ran out of ink? The Moore’s Law like growth of Real Estate prices not too much of a factor?
The Food thing is going to get worse, with the inability to get the migrant workers that our farms rely on into the country. Is it a good thing we need migrants to do this job? That is for another days discussion. Oh and Electricity prices in Ontario went “back up” when they changed back to a “peak” and “off peak” billing again.
What does the Bank of Canada think about this? Actually using their calculations we are only a little bit above their goals?
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Christmas Wishes from the Past
I seem to do this a lot, so here are my Christmas wishes from years gone by:
- Merry Christmas 2020 ! Do you see the pussy cat in the tree? An odd year with a Pandemic and all. Christmas All Year Round ? Yes, it does feel like that these days doesn’t it? The 12 Days of Christmas Debt ? What the heck ? That isn’t Christmasy at all!
- Merry Christmas 2017 ! That was a year of fun videos that I found to help celebrate the holiday. Love that old CFCF fill.
- Merry Christmas, Highspeed Internet a right, Inflation at 1.2 and #MoneyTalk 2016 ! Sheesh, I couldn’t even be bothered to send a message that year, how Grinchy.
- Merry Christmas 2014 ! A lovely quote from the King James bible for that year. Seem to have done nothing for 2015. This year I even had a Christmas Eve post.
- Happy Christmas 2013 ! I loved the photos of every years Christmas Tree, very festive. Another Christmas Eve post too.
- Merry Christmas 2012 ! You see the hideous curtains we had in the den back then. That year we had the $150 Christmas challenge too.
- Merry Christmas 2011 ! The tree moved back to the front room and I used Google Translate to create a festive message. Think I was on French training that year. Also At Christmas Why Not Just Give Cash ?
- Merry Christmas 2010 has some very deep philosophical commentary in it. Must have been hitting the Christmas cheer early. Christmas Eve that year must have been a Friday.
- Merry Christmas 2009 and all you got was an NFB short? Not that bad really. There was also Christmas Eve thoughts too.
- Merry Christmas 2008 ! That was the year of the infamous Financial Advent Calendar too.
- A few last Yuletide Thoughts was what I had in 2007.
- Merry Christmas 2006 ! A quieter year I suppose.
- Whatever little money you have, make sure you spend it… was my first year writing here. Quite gruff and grinchy.
Additional Reads From Stats Canada
- The Consumer Price Index and COVID-19: A One-Year Retrospective a useful read to get some perspective on the possible whiplash inflation that may come from all the stimulation forced into the economy.
Previous Rants About Inflation
- Inflation at 2011 levels ? OK, so I have even written this title before? Yes, I need more imagination.
- Bank in 2017 Inflation Still Under 2 Pct (for now) so things were OK back then too.
- Previously I have written a lot about inflation, here is a small taste. Note the snappy titles.
- The year was 2016
- Shocking Electricity Price in August (CPI Canada)
- Electricity Prices Continue to Sizzle in July
- Zap! Electricity Prices Pushes Inflation in June
- Expensive Food and Shelter in April in Canada
- Good Food Still Is Not Cheap in Canada (Inflation for March)
- Food Prices Continue to Rise for February
- Veggies up 18.2 pct in Canada
- Now for 2015
- The year was 2016
And that is just scratching the surface.