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Canadian inflation gets largest monthly increase on record

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posted on Apr, 19 2011 @ 06:56 AM
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No kidding. And it'll only get worse.

Canada Inflation Surges: Core Comes At 0.7% On 0.2% Consensus

Sharp Increase in Core, Likely on Commodity Price Pass-Through
Large upside surprise in core inflation, pushing year-over-year figure much closer to Bank of Canada's target.

KEY POINTS:
1. Canada's core CPI surprised sharply to the upside in March, rising 0.5% on a seasonally adjusted basis on the month and more than reversing the downside surprises of prior months. Two key factors explaining the sharp rise in the core index were clothing/shoes (+2.1% mom SA, the largest monthly increase on record, worth about 14 basis points on the SA core), and food (+1.6% mom SA, also the largest monthly increase on record; unlike the US core index, a large part of food is included in the Canadian core index--with a simple assumption that food prices rose equally across all categories, this would be worth about 30 basis points on the SA core). Given increases in cotton prices in recent months, commodity prices look to be a factor in both of these increases.


No kidding. 2.1% for clothes annualized is 25% and 1.6% for food is 19%... So yeah. And they say it's only ``temporary``... YEAH SURE... with the US going down the drain, and our GDP being 50% exports to the US, I don't think so. The economy will only get worse, our dollar will fall and imports will get costlier, meaning inflation will be even higher.




posted on Apr, 19 2011 @ 07:26 AM
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reply to post by Vitchilo
 


This is just after our finance minister told us a bunch of diamond sparkled lies. This will be great for the conservatives right before the election. Our dollar should have more purchasing power not less. It shows that the market is manipulated and that a higher dollar does not really deflate the economy. Equilibrium is a joke. Our dollar is above parity with USA last time I checked, so why do magazines cost 15% more north of the border, and an Ipod touch 50 dollars more. Market manipulation at it's best and people buy it because the newspaper tells them so.

Thanks for posting this.

Star and Flag.



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