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Bank of Canada holds interest rate steady at 5% (www.cbc.ca)
submitted 1 year ago by sbv@sh.itjust.works to c/canada@lemmy.ca
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Welp. Interest rates are staying steady (at least) until the next announcement in October.

I don't feel like inflation has decreased. Housing is still exorbitant. But there haven't been mass layoffs, so we've got that going for us.

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[-] sbv@sh.itjust.works 2 points 1 year ago

The July inflation report recorded a slowdown in grocery inflation, but Canadians continue to see sharp increases at the supermarket. ... Prices were up 8.5 per cent in July from a year ago

From the G&M.

[-] zephyreks@lemmy.ca 1 points 1 year ago

Isn't M/M inflation down for everything except mortgage payments?

[-] sbv@sh.itjust.works 1 points 1 year ago

This is in response to the statement above:

Prices staying high is not inflation.

Prices for necessities are not just staying high. They are continuing to increase. Month over month increases may be trending down, but inflation for food is still over 8%.

this post was submitted on 06 Sep 2023
65 points (100.0% liked)

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