Official Inflation Rate Rises To 2.1%, Gas Prices Up 19.6% Year-Over-Year

With many Canadians already struggling with the rising cost of living and large debt burdens, escalating carbon taxes will make life even more expensive.

Inflation is going up.

The official inflation rate (which likely undercounts the true increase in the cost of living), went up to 2.1% in November, the highest level in almost a year.

A big driver of the increased rate was the surge in gas prices, which went up 19.6% year-over-year.

This increase comes despite the fact that Canada has massive oil reserves, and should be able to provide our citizens with inexpensive gasoline at stable prices.

The inflation rate went up the most in Manitoba (3.2%), and Saskatchewan ($3.7).

Real inflation rate much higher?

Many doubt whether the true inflation rate is really being recorded in the “official” stats.

After all, it’s rare to find anyone who really feels that the cost of living has gone down at all in the last decades, and many families now require two incomes to barely afford what was once easily available on one income.

Additionally, record high household debt levels point to the fact that many people are only holding on to their standard of living by borrowing more and more money, which is a key indicator that the cost of living has been increasing far more than the government stats suggest.

Of course, rather than help the situation, the Trudeau government is making things worse by imposing ever escalating carbon taxes and increasing regulations – both of which raise the cost of living even further.

It’s almost as if our ‘leaders’ don’t really want us to be financially free.

Spencer Fernando

*****
You can support SpencerFernando.com by becoming a monthly contributor through Patreon, or making a contribution through PayPal.

5
Share Your Thoughts

avatar
4 Comment threads
1 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
5 Comment authors
Alanna BirdScott SmithLenskyClive EdwardsC Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
C
Guest
C

The worst mistake in the history of Canada, was to vote this moron in to office. Canada is doomed under Trudeau dictatorship. It is very sad that Canada, has become so dysfunctional as a country, where diversity is more important to our PM and the welfare of foreign countries, not the welfare of the Canadian citizens and the taxpayers. Trudeau does not care about the Canadian taxpayers, he is corrupt, and so is his liberal government.

Lensky
Guest
Lensky

Amen to that !! He has nothing but contempt and disdain for the Canadian people and the country as it exists … he is using it as a pawn for his self-promotion on the world stage, and will sell us out in a heartbeat. The intellect of those that voted for this drama coach has to be severely questioned …

Clive Edwards
Guest
Clive Edwards

Where’s Doug Christie when we need him? Better to be out of Canada than under the boot of the likes of Trudeau and the globalists (and soon the Chinese will add their boots to our necks).

Scott Smith
Guest
Scott Smith

You nailed it. Our leaders DO NOT want us to be financially free. Burdening us with tax upon tax is designed to make us economic slaves totally under the control of the government.

Alanna Bird
Guest
Alanna Bird

this carbon tax is just a money grab .. Canada’s “carbon footprint” is 2 % of the entire world… and we live in a country where we absolutely need to heat our homes for half the year. it is unreasonable to force everyone to pay this tax for something we need ….