shockedcanadian
Diamond Member
- Aug 6, 2012
- 34,573
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It is interesting that as some of us were warned about the consequences for Canada, a nation that loses its best and refuses to innovate. Now CBC is sounding the alarm as 85% of Canadians fear they are in trouble as wages won't match inflation, 20%+ using food banks for the first time etc.
Venezuela here we come.
We are losing, bigtime. Those we blame for our losing (foreign governments from America to China) are winning. Some of this due to Canadian talent and ambition.
Canada's inflation rate rose at its fastest pace in almost 40 years in the year up to May, as the price of just about everything continues to go up fast.
Statistics Canada reported Wednesday that an uptick in the price of gasoline was a major factor in the upswing. Gas prices rose by 12 per cent in the month of May alone, and are up by 48 per cent compared to where they were a year ago.
Food prices were also a major factor to the upside, with grocery bills increasing by 9.7 per cent over the past year. Within the food category, the cost of edible fats and oils skyrocketed 30 per cent, the fastest increase on record.
Russia's invasion of Ukraine is a major factor in that uptick, as Ukraine is one of the world's leading suppliers of sunflower oil, and the war has caused shortageS of the pantry staple.
Venezuela here we come.
We are losing, bigtime. Those we blame for our losing (foreign governments from America to China) are winning. Some of this due to Canadian talent and ambition.
Canada's inflation rate rose at its fastest pace in almost 40 years in the year up to May, as the price of just about everything continues to go up fast.
Statistics Canada reported Wednesday that an uptick in the price of gasoline was a major factor in the upswing. Gas prices rose by 12 per cent in the month of May alone, and are up by 48 per cent compared to where they were a year ago.
Food prices were also a major factor to the upside, with grocery bills increasing by 9.7 per cent over the past year. Within the food category, the cost of edible fats and oils skyrocketed 30 per cent, the fastest increase on record.
Russia's invasion of Ukraine is a major factor in that uptick, as Ukraine is one of the world's leading suppliers of sunflower oil, and the war has caused shortageS of the pantry staple.
