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Inflation & CPI
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Cost of food at a crisis level
As we grapple with yet another wave of COVID, the parallel poverty crisis in Toronto has been exacerbated past its breaking point and will have enduring societal impacts.
Rising inflation exposes the gap between the richest and poorest
The rapid rise in inflation in Canada—and around the world—is significantly cutting into household income. Inflation reached 7.7% this May, its highest level since 1983.
Canada’s fight against inflation: Bank of Canada could induce a recession
History tells us that the Bank of Canada has a 0% success rate in fighting inflation by quickly raising interest rates. If a pilot told me that they’d only ever attempted a particular landing three times in the past 60 years with a 0% success rate, that’s not a plane I’d want to be on. Unfortunately, that looks likes the plane all Canadians are on now.
Non-viable businesses need an”off-ramp”
Throughout the pandemic, many small- and medium-sized businesses have weathered the storm, thanks to federal government help. In his deputation to Canada’s federal Industry Committee, David Macdonald says it’s time to give those businesses an “off-ramp”.
Truth bomb: Corporate sector winning the economic recovery lottery; workers falling behind
This isn’t a workers’ wage-led recovery; in fact, inflation is eating into workers’ wages, diminishing their ability to recover from the pandemic recession. Corporate profits are capturing more economic growth than in any previous recession recovery period over the past 50 years.
Austerity is no solution for inflation
With rising inflation, it’s important to consider what governments can—and shouldn’t—do about it. Listening to the austerity hawks would do more harm than good.
Profit squeeze: Excess corporate profits are making inflation tougher for Canadians
Twenty-six per cent of higher inflation for Canadian households is being driven by excess profits
What’s driving inflation and how Ottawa can push back
Prepared remarks to the House of Commons finance committee’s study on inflation
What can governments do to combat inflation? A lot
Tackling inflation can be part of a public-led recovery—it only requires government to reduce or maintain prices in areas they control.
Not all provinces protect their poorest from inflation
Despite the likely transitory nature of this inflation, many of the poorest Canadians won’t be protected.
What’s Behind High Gas Prices?
Can You Spell Gouge? Download 108.4 KB3 pages
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