Hey people, I hope you are all good. In this article, I will touch the basis of the subject heated to red at the moment in the world, which is Canadian inflation.
With inflation comes the increase in the cost of everything.
To summarize, inflation is the Rate to goods prices And the services increase.
Inflation is classified into three types: inflation-air on demand, push-push inflation and integrated inflation. The most commonly used inflation indices are the consumer price index (ICC) and the wholesale price index (WPI). In addition, inflation can be considered positively or negatively depending on the individual point of view and the rate of change. Those who have tangible assets, such as goods or stored products, may like to see a certain inflation as increases the value of their assets.
Inflation is an increase in prices, which can be translated by the decline of purchasing power over time. The rate at which the reductions in purchasing power can be reflected in the average increase in prices of a basket of goods and services selected over a certain period of time. The rise in prices, which is often expressed as a percentage, means that a currency unit buys less than in previous periods. Inflation can be contrasted with deflation, which occurs when prices decrease and purchasing power increases. – Investopedia
Before going ahead, take a look at the Canadian inflation board in the past 25 years.
As you can clearly notice in the table above, in the past 25 years, that is to say since the early 2000s, Canadian inflation has never been so high (in terms of percentage at least).
Another point to remember here is that the highest percentage of inflation in the past 25 years is around 4 somewhere in the 2003-2004 calendar year. So we are currently living in unprecedented times. There are no questions about it.
This year, in June, inflation reached a percentage of 8.1, which is the highest record of all time. Wow! In October 2022, inflation was 6.9%, which is still extremely high and at levels never seen before, but much better than June at least.
Inflation percentage per month in 2022 –
Inflation board for the last 10 years –
In the past 10 years, Canadian inflation that has always been between 1 and 3% is almost 6 to 8% now.
As always, over time, inflation levels will return to the average beach 2 to 4% or even below. Let’s all be optimistic and continue to monitor in this space.
Thank you for reading, let me know your thoughts and comments below.
