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Price Change from October 2019

The Consumer Price Index and Inflation are helpful concepts if confusing. The CPI measures the acceleration of prices, not their velocity. Unfortunately, the CPI rarely reflects a negative number (e.g., prices dropped).

October 2019 to July 2024 CPI differences according to Stats Canada


This simple calculation says a few things:

  • Prices are up 18.67% from October 2019 to July 2024 in the Stats Canada Basket.
    • A simple example is a product that cost $10 in October 2019 and now costs $11.87 (in general).
  • The most significant jump in prices is caused by gasoline.
  • Food is up 27.08%, so $10 of groceries about 5 years ago now costs $12.53
  • Shelter is up a lot, and so is energy.
  • The basket’s base of 100 is based on 2002. This means that prices have increased 63% since 2002, which again seems low.
    • Food is nearly doubling at 90+%, so yes, you are paying almost twice what you did in 2019.
    • Energy and Gasoline have doubled since 2002

These numbers seem abstract, and for many folks, they seem low, but I won’t start arguing with the statisticians at Stats Canada.

I note that Wealthy Barber says the CPI Government numbers may not be “spot on.” I think I agree with him on that one.

I think Mr. C. might have a point here.

Previous Rants About Inflation

And that is just scratching the surface.

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