this post was submitted on 27 Jun 2023
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Canada's inflation rate decelerated to 3.4 per cent in the year up to May, Statistics Canada said Tuesday, led by sharply lower gasoline prices. 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.

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[–] [email protected] 4 points 1 year ago (3 children)

Sooo... by slowdown they mean prices will stop rising, but what about lowering?

[–] [email protected] 10 points 1 year ago* (last edited 1 year ago)

A deflationary environment is very bad generally because it incentivizes people to not spend money which slows down the economy and hurts everyone.

The healthier thing to do is for wages to rise. Wages are currently rising but slower than inflation (2.9% yoy as of january), and that should make you mad.

[–] [email protected] 5 points 1 year ago (2 children)

Did the price of bread go down after they were caught?

[–] [email protected] 10 points 1 year ago

The expense and shame of being caught meant they had to increase it another 10%.

[–] kakes 7 points 1 year ago
[–] pancakes 5 points 1 year ago* (last edited 1 year ago)

I'm sure if we ask the corporations nicely, they'll lower their prices...