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  • Inclusionary housing in a slow-growth city like Winnipeg December 3, 2018
    In Winnipeg, there is a need for more affordable housing, as 21 percent of households (64,065 households) are living in unaffordable housing--according to CMHC's definition of spending more than 30 percent of income on shelter.? This report examines to case studies in two American cities and how their experience could help shape an Inclusionary Housing […]
    Canadian Centre for Policy Alternatives
  • True, Lasting Reconciliation November 21, 2018
    For the first time, a report outlines what implementation of the United Nations Declaration on the Rights of Indigenous Peoples could and should look like at the provincial level. This report focuses on implementation in BC law, policy and practices. Fundamental to the UN Declaration is an understanding that government must move from a “duty […]
    Canadian Centre for Policy Alternatives
  • Boom, Bust and Consolidation November 9, 2018
    The five largest bitumen-extractive corporations in Canada?control 79.3 per cent of Canada’s productive capacity of bitumen. The Big Five—Suncor Energy, Canadian Natural Resources Limited (CNRL), Cenovus Energy, Imperial Oil and Husky Energy—collectively control 90 per cent of existing bitumen upgrading capacity and are positioned to dominate Canada’s future oil sands development. In a sense they […]
    Canadian Centre for Policy Alternatives
  • A new Director for CCPA's BC Office: Message from Mary Childs, Board Chair October 24, 2018
    The CCPA-BC Board of Directors is delighted to share the news that Shannon Daub will be the next BC Director of the Canadian Centre for Policy Alternatives. Last spring, Seth Klein announced that, after 22 years, he would be stepping down as founding Director of the CCPA-BC at the end of 2018. The CCPA-BC’s board […]
    Canadian Centre for Policy Alternatives
  • Who Owns Canada’s Fossil-Fuel Sector? October 15, 2018
    The major investors in Canada’s fossil-fuel sector have high stakes in maintaining business as usual rather than addressing the industry’s serious climate issues, says a new Corporate Mapping Project study.? And as alarms ring over our continued dependence on natural gas, coal and oil, these investors have both an interest in the continued growth of […]
    Canadian Centre for Policy Alternatives
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Inflation Central

Statistics Canada reported today that consumer prices edged up by 0.1% in February on a seasonally-adjusted basis, bringing the annual inflation rate to 2.6% and the core inflation rate to 2.3%. These rates are within the Bank of Canadaa€?s target range and should allow it to keep interest rates low, which would be appropriate given Canadaa€?s stalled labour market.

The Labour Force Survey indicates that the average hourly wage rose at an annual rate of 2.0% to February. Working Canadians are not keeping up with the cost of living.

While the national totals changed little in February, there was a notable regional story. Among the provinces, Quebec and Ontario posted the highest inflation rates: 3.2% and 2.9% respectively. Both had wage growth of only 1.7%, the lowest rate of any province except Manitoba.

In other words, central Canadians are paying for the highest price increases out of the lowest wage increases. Over the past year, gasoline prices have risen faster in Quebec (+13.4%) and Ontario (+9.5%) than the national average (+8.9%). Ontarians were also hit by an 8.9% increase in provincial electricity rates.

UPDATE (March 24): Quoted in todaya€?s Toronto Star (page B8)

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Comment from MikeB
Time: March 23, 2012, 11:01 am

I think it is worth emphasizing that this rise in inflation is mostly due to energy costs which has little or nothing to do with Canada’s monetary and fiscal policy.

Interesting observations on inflation from professor John T Harvey here:

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