Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - *Updated* Ongoing Bank of Canada Benchmark Rate Announcements

chemgear · 06-27-2023, 11:59 AM

https://www.cbc.ca/news/business/inf...-may-1.6889725

Gasoline prices were the single biggest reason for the deceleration. If gasoline is stripped out, the inflation rate would be 4.4 per cent.

But beneath the headline slowdown in consumer prices, many facets of the cost of living are still increasing at an eye-watering pace.

Grocery prices went up at an almost nine per cent pace. That's barely lower than the 9.1 per cent pace clocked in April, and still almost three times the inflation rate.

Food prices have been increasing at a faster pace than the official inflation rate for more than a year now.

Leslie Preston, an economist with TD Bank, noted that if you strip out volatile items like gasoline and mortgages, underlying inflation is still probably warm enough that the Bank of Canada is likely to think at least one more rate hike is warranted at some point.

06-27-2023, 11:59 AM	#1301
chemgear Franchise Player Join Date: Feb 2010 Exp:	https://www.cbc.ca/news/business/inf...-may-1.6889725 Gasoline prices were the single biggest reason for the deceleration. If gasoline is stripped out, the inflation rate would be 4.4 per cent. But beneath the headline slowdown in consumer prices, many facets of the cost of living are still increasing at an eye-watering pace. Grocery prices went up at an almost nine per cent pace. That's barely lower than the 9.1 per cent pace clocked in April, and still almost three times the inflation rate. Food prices have been increasing at a faster pace than the official inflation rate for more than a year now. Leslie Preston, an economist with TD Bank, noted that if you strip out volatile items like gasoline and mortgages, underlying inflation is still probably warm enough that the Bank of Canada is likely to think at least one more rate hike is warranted at some point.