For July 2023, Stats Canada published that the CPI, aka Inflation, is 3.3%. This is up 0.5% (Year over Year) from the June 2023 numbers. Plenty of reasons for this, but let’s drill down to Groceries.
- Grocery is at 8.5% year over year, which is a lower increase than last month. However, for those who remember the rule of 72, that means groceries will double in price (at this rate) in 9 years.
- Fresh Fruit and Bakery goods prices were lower. Those are two areas, however, where previous price doubling had already occurred. Maybe the Baking Elves are feeling a little guilty?
The continual Bank of Canada interest rate increases are also pushing Inflation as well. It has slowed the real estate market, but I am confident my Real Estate influencers will find a way around it. There is talk of the Infinite Mortgage (cough, scam, cough), which causes me to shiver to my bones.
I am protected against some inflation, having equity in my house, and being an old white guy. Yes, that is a reason, as I have been able to build up savings during a ridiculous Stock Market world of the past decade or two. For my children and their children, I have no idea what needs to change, but something will need to change, very soon.
Previous Rants About Inflation
- Grocery Inflation in Canada at 8.5% in July in 2023, doesn’t look like things are getting much better.
- June 2023 Inflation was at 2.8% but Groceries were at an astronomical 9.1%.
- In 2022 Inflation at 7.7% May 2022 in Canada was near the high point of things.
- Inflation at 6.7% March 2022 in Canada goodness that was a bit of a jump?
- Inflation 4.4% September 2021 shows that this started a while ago.
- Looks like COVID leads to Inflation in August 2021 ?
- I talked about this in April of 2021, didn’t think it was going to get this bad, this fast.
- 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.