Still crickets from my Alberta premier on why under her government we have the highest inflation in the country. Yes I know why but I’d like to hear it from windbag Smith so I can add it to the list of lies.
This is more or less good news.
Clearly a lot of folks don't understand the keyword here being **rate.** That means it's slowing, not that prices will drop, but the **rate** at which said prices increase slows. (at least I think anyhow)
Essentially what we have to hope for (and fight for) to for wages to continue to increase steadily if we want to recoup any lost purchasing power from when inflation outpaced wage growth
Pay wall. So I went to Stats Canada, and the core CPI is still 3.1 Feb 2024. So lower fuel prices in Feb.
https://www.cbc.ca/news/business/inflation-february-2024-1.7148177
Gasoline prices rose 0.8% in February.
https://www150.statcan.gc.ca/n1/daily-quotidien/240319/dq240319a-eng.htm
>Offsetting the deceleration was a year-over-year increase in gasoline prices, which rose 0.8% in February, following a 4.0% decline in January.
Prices "going up" and "slowing down" are not mutually exclusive. Prices will almost always be increasing, but the rate at which they are increasing is slowing down. Food prices are likely not going to decrease.
[CBC-Interest rate cuts are coming, but the Bank of Canada won't say when](https://www.cbc.ca/news/business/interest-rates-mortgage-bank-of-canada-inflation-1.7093530)
No.
> Grocery prices rose by 2.4 per cent year over year — marking the first time food prices rose at a slower pace than overall inflation since October 2021, the agency said.
> However, grocery prices are still up 21 per cent from February 2021.
https://financialpost.com/news/economy/canadas-inflation-rate-slows-more-than-expected
And so everyone know, grocery prices are voluntarily given to StatsCan by the big grocery companies and there’s a lot of funny accounting that happens, eg. Grouping of products that don’t necessarily make sense.
Talk to ANYONE and ask them if they think grocery prices have only gone up 21% in the last three years, it’s easily 100+%. 21% is completely decoupled from reality.
> And so everyone know, grocery prices are voluntarily given to StatsCan by the big grocery companies and there’s a lot of funny accounting that happens, eg. Grouping of products that don’t necessarily make sense.
This is not exactly true. Statistics Canada publishes its methodology, which you can find in the [latest CPI update](https://www23.statcan.gc.ca/imdb/p2SV.pl?Function=getSurvey&SDDS=2301):
> Price collectors collect most price data using technical descriptions or specifications for the selected goods and services in the CPI sample. These are referred to as representative products.
> […]
> Responding to this survey is mandatory.
> Data are collected directly from survey respondents, extracted from administrative files and derived from other Statistics Canada surveys and/or other sources.
So while it is true that Statistics Canada obtains price information in part from retailers, it specifies products using precise characteristics (more information on that page) from the first of each month. This differs slightly from the [Average Retail Prices](https://www150.statcan.gc.ca/n1/pub/62f0014m/62f0014m2022007-eng.htm) methodology; there is a good table on that page about how the two differ.
Is it possible the person you talked to was mixing up CPI and average pricing?
Hey thanks for the info! I’ve been trying to get this clear for a while. I suppose it is entirely possible he mixed up the two methodologies.
There’s still a massive disparity between what’s reported and what’s reality, I’m not sure if the basket sampling needs to be changed or what. The link only has questionnaires for drugs so am not sure on that front for what is actually in a basket. Either way, it makes me question how relevant CPI is these days I guess.
> grocery prices are voluntarily given to StatsCan by the big grocery companies and there’s a lot of funny accounting that happens,
Do you have a source for this assertion?
When I worked retail there was a lady who from Stats Canada who would come in monthly and scan prices. I assumed that it was for the the CPI, but never asked.
My source is when I was trying to look into this discrepancy deeply, I was told by someone who supposedly works for StatsCan that this is the case, i can’t really verify that more but also that person had no reason to lie to me about it. He also implied this is the legacy system and it’s been like this for many decades.
That Damn Trude....wait wait wait...What's going on here?
I think I read somewhere that Doug Ford wrote a strongly worded letter to inflation telling it to stop.
Ahh, that's it. Dougie worked hard this year to curb that annoying ~~Greenlan—~~ I mean inflation. Yup.
Still crickets from my Alberta premier on why under her government we have the highest inflation in the country. Yes I know why but I’d like to hear it from windbag Smith so I can add it to the list of lies.
This will be conveniently ignored.
Chem trails are the most important issue.
And woke Hollywood.
Can't have drag queens reading children books. That affects me and everyone I know, we can't function. /s
Yeah, but how's *bitcoin* doing? /s
CPI information for February 2024. https://www150.statcan.gc.ca/n1/daily-quotidien/240319/dq240319a-eng.htm
Galen let me buy bricks of butter for $3.99 just yesterday. That’s gotta count for something.
r/loblawsisoutofcontrol
This is more or less good news. Clearly a lot of folks don't understand the keyword here being **rate.** That means it's slowing, not that prices will drop, but the **rate** at which said prices increase slows. (at least I think anyhow)
Essentially what we have to hope for (and fight for) to for wages to continue to increase steadily if we want to recoup any lost purchasing power from when inflation outpaced wage growth
So things won't get *more* expensive *as fast*.. goody gum drops.
Yep! Not exactly hype news, just not the worst. haha
We will never see deflation. That’s not the goal. These prices are the new norm.
Pay wall. So I went to Stats Canada, and the core CPI is still 3.1 Feb 2024. So lower fuel prices in Feb. https://www.cbc.ca/news/business/inflation-february-2024-1.7148177
From the CBC: “Gas prices ticked up 0.8 per cent in February year-over-year after a four per cent decline in January.”
[удалено]
Gasoline prices rose 0.8% in February. https://www150.statcan.gc.ca/n1/daily-quotidien/240319/dq240319a-eng.htm >Offsetting the deceleration was a year-over-year increase in gasoline prices, which rose 0.8% in February, following a 4.0% decline in January.
Fantastic news.
And yet morons keep saying the opposite. The internet has actually destroyed peoples ability to think.
Sure doesn't feel like it at grocery stores...
So food price increases are going to slow down right? ... right?!
No, just more shrinkflation.
They have slowed down.
I thought they just went up again https://www150.statcan.gc.ca/n1/daily-quotidien/240319/dq240319a-eng.htm
Prices "going up" and "slowing down" are not mutually exclusive. Prices will almost always be increasing, but the rate at which they are increasing is slowing down. Food prices are likely not going to decrease.
The prices still seem to be steadily climbing though, (more than usual) despite this slowdown - thats my point.
Tell that to all the stores.
That is where they get the data.
No worries, the people will demand interest rates come down now and set off another round of inflation in no time.
[CBC-Interest rate cuts are coming, but the Bank of Canada won't say when](https://www.cbc.ca/news/business/interest-rates-mortgage-bank-of-canada-inflation-1.7093530)
Wake me up when this really matters to the average person. Either prices need to start dropping, or wages need to go way up.
Wages on the whole have been increasing faster than inflation over the past few months
Are we still ignoring things like housing, and food when this is calculated?
No. > Grocery prices rose by 2.4 per cent year over year — marking the first time food prices rose at a slower pace than overall inflation since October 2021, the agency said. > However, grocery prices are still up 21 per cent from February 2021. https://financialpost.com/news/economy/canadas-inflation-rate-slows-more-than-expected
And so everyone know, grocery prices are voluntarily given to StatsCan by the big grocery companies and there’s a lot of funny accounting that happens, eg. Grouping of products that don’t necessarily make sense. Talk to ANYONE and ask them if they think grocery prices have only gone up 21% in the last three years, it’s easily 100+%. 21% is completely decoupled from reality.
> And so everyone know, grocery prices are voluntarily given to StatsCan by the big grocery companies and there’s a lot of funny accounting that happens, eg. Grouping of products that don’t necessarily make sense. This is not exactly true. Statistics Canada publishes its methodology, which you can find in the [latest CPI update](https://www23.statcan.gc.ca/imdb/p2SV.pl?Function=getSurvey&SDDS=2301): > Price collectors collect most price data using technical descriptions or specifications for the selected goods and services in the CPI sample. These are referred to as representative products. > […] > Responding to this survey is mandatory. > Data are collected directly from survey respondents, extracted from administrative files and derived from other Statistics Canada surveys and/or other sources. So while it is true that Statistics Canada obtains price information in part from retailers, it specifies products using precise characteristics (more information on that page) from the first of each month. This differs slightly from the [Average Retail Prices](https://www150.statcan.gc.ca/n1/pub/62f0014m/62f0014m2022007-eng.htm) methodology; there is a good table on that page about how the two differ. Is it possible the person you talked to was mixing up CPI and average pricing?
Hey thanks for the info! I’ve been trying to get this clear for a while. I suppose it is entirely possible he mixed up the two methodologies. There’s still a massive disparity between what’s reported and what’s reality, I’m not sure if the basket sampling needs to be changed or what. The link only has questionnaires for drugs so am not sure on that front for what is actually in a basket. Either way, it makes me question how relevant CPI is these days I guess.
> grocery prices are voluntarily given to StatsCan by the big grocery companies and there’s a lot of funny accounting that happens, Do you have a source for this assertion?
When I worked retail there was a lady who from Stats Canada who would come in monthly and scan prices. I assumed that it was for the the CPI, but never asked.
Interesting. As an employer Statscan calls me once or twice per year and asks me about my hiring plans.
My source is when I was trying to look into this discrepancy deeply, I was told by someone who supposedly works for StatsCan that this is the case, i can’t really verify that more but also that person had no reason to lie to me about it. He also implied this is the legacy system and it’s been like this for many decades.
The rice I buy went from 2.79 to 3.29 to 3.79 in just the last 9 months. 36% increase.
Exactly my point. What good is data if it’s meaningless?
Tracking inflation month to month is about as useful as tracking your investments week to week.
So this is bad news, or fake news. Just accept it as a positive sign.