Thursday, July 19, 2007

Inflation

The latest inflation numbers are in and to the surprise of many economists inflation declined 0.3% from the previous month (2.2% versus the predicted 2.5%...but still above the central banks target of 2%).

Although inflation checked in at a national annualized rate of 2.2% I think it’s meaningful to examine where this average is coming from. Listed below are the inflation rates per province and territory:

—Newfoundland and Labrador 1.4
—Prince Edward Island 1.6
—Nova Scotia 1.8
—New Brunswick 1.9
—Quebec 1.5
—Ontario 1.6
—Manitoba 2.2
—Saskatchewan 3.2
—Alberta 6.3
—British Columbia 1.5
—Whitehorse, Yukon 1.7
—Yellowknife, N.W.T. 3.6
—Iqaluit, Nunavut 2.8

Anything stand out? Of course it does...all the provinces/territories participating in the oil boom are also experiencing rapid inflation (mainly as a result of the high cost of housing).

2 comments:

Nabloid.com said...

With cost of living (primarily house prices and rent) going up so fast here (AB), I know plenty of tradesmen would rather go on strike than risk getting less tahn 6% increase in pay raises.... The next three years are already GUARANTEED to have high inflation in the labour pool...

QUALITY STOCKS UNDER 5 DOLLARS said...

Inflation is not dead.