Canada’s Inflation Rate Reaches Highest Level In Over Half A Decade

Annual inflation rate hit 2.5% in June, with gas prices a key factor behind the rise.

If life keeps seeming more and more expensive, you’re not alone.

Higher energy costs, particularly gasoline and other fuels pushed the annual inflation rate up to 2.5% in June.

It’s the highest inflation rate in over half a decade, going back to February of 2012 when inflation was 2.6%.

The cost of airline tickets, mortgage interest payments, and restaurants all went up.

Of course, while the government often acts as if inflation is something they can’t do anything about – pinning it all on the Bank of Canada – the truth is that the policies of the Trudeau government are a key factor behind much of the inflation surge.

Carbon taxes, pipeline delays and cancellations resulting in capacity shortages, and regulatory overreach all contribute to making energy more expensive, and that flows into the rest of the economy.

So, not only are taxpayers getting fleeced by higher taxes, but we’re also getting the ‘inflation tax’ added on for good measure.

Lucky us…

Spencer Fernando

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Dave Bainard
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Dave Bainard

Raising interest rates doesn’t always ease inflation. This was shown when Cretien was finance minister for Trudeau Sr. Continued interest rate increases up to the 20% range boosted the inflation into the teens.

tTommy Hawk
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Imagine, in the thirties people though Al Capone and others were thieves and all round bandits.

They were mere amateurs compared to our present government.

NancyW
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NancyW

Totally agree, they are scary and getting worse.

Claudine Prosper
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Claudine Prosper

Al Capone and his bandits were saints compared to this government.

NancyW
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NancyW

I wonder if Canadians really see what is being done by the Lieberals/NDP? After watching what is going on with taxes and other policies like minimum wages Lieberals/NDP are bringing in, I live in Ontario so it became obvious what was being done, two layers of Lieberals/NDP. Minimum wage is put up by government so they get pay raise, great, but the lower income employees all need a raise then, great, so they are all in a higher tax bracket and the government rakes in more taxes, great? but the companies paying all these increases now has to raise the… Read more »