October 2021 Inflation | General financial discussion | Discussion forum

And I think June 2022 vs June 2021 will be <3%. We will still be playing catch up from the lows of 2020 and early 2021 until at least Apr 2022.

I don't really care about Oct 2021 vs Oct 2020 being well over 4%. That is a sign of a recovering economy.

Until I stop hearing businesses talk about how hard it is to find & retain workers, even with the increased minimum and regular wages (plus incentives like signing/retention bonuses, paid personal days off above vacation time, etc even for unskilled labour positions!) I won't believe inflation is hurting the majority of Canadians.

Higher inflation mean higher interest rates on your savings?

I'd have to get some references to believe that 53%, what I'm reading is that maybe a third of Canadians are living week-to-week, the rest have done very well in the last 18 months, bank deposits are WAY up and ready to be spent.

Vatox said

And you continue to miss my point! 53% of Canadians live at the margins of their income. They didn’t save based on the “depressed” economy, and therefore do not have the backup cash to weather the higher costs. If everyone lived as we do, on this site, then your argument would fit. You have to take advantage of the low inflation and deflation in order to soften the current high inflation. You and Norman1 need to stop thinking inside your own little worlds. And remember, the financial health of everyone is very important, your income does not come from your own efforts alone, it comes from everyone consuming goods and services.  

So you are saying that 0.7% YOY inflation in Oct 2020 and 4.7% YOY inflation in Oct 2021 is not somehow equivalent to about 2.7% of YOY inflation per year the past 2 years? Is that not about what should be expected if we had not had the 2020 crisis? What is the difference? It is a failure of grade school math by so many people, and especially the media who should know better.

This will be nothing but a squiggle in a 10 year graphic representation of CPI for this decade. Come back then and tell me whether the 'average' CPI for the current decade is not something in the range of 2-3% per year.

AltaRed said
It is a failure of grade school math by so many people, and especially the media who should know better.

I think that the media know exactly what they are doing. A small number simply is not scary or sensational enough catch eyeballs.

Vatox, I'd need a better source than the "MNP Consumer Debt Index", mentioned in a report by MNP Ltd, a firm offering services in insolvency, etc, and to which MNP tries to imbue with additional credibility by sourcing it from something they call "Globe Newswire".

Bill said
Vatox, I'd need a better source than the "MNP Consumer Debt Index", mentioned in a report by MNP Ltd, a firm offering services in insolvency, etc, and to which MNP tries to imbue with additional credibility by sourcing it from something they call "Globe Newswire".  

The reference and source are perfectly fine but the context is wrong and there is something fishy about this. Evidence exists that says savings rate went up with folks stashing CERB et al benefits and nowhere frivolous to spend it (online shopping excepted). So why is it more people since December are now struggling? Because they are foolishly spending it again.

This quote from the link "Despite the concern, six in ten (59%) believe with interest rates so low, now is a good time to buy things that they otherwise might not be able to afford (-2 from December). In addition, nearly half (49%) say they’re more relaxed about carrying debt than they usually are (+2 from December)."

Nothing about inflation at all as Vatox asserts. YCFS.