Annual inflation rate hit 2.5% in June, with gas prices a key factor behind the rise.
If life keeps seeming more and more expensive, you’re not alone.
Higher energy costs, particularly gasoline and other fuels pushed the annual inflation rate up to 2.5% in June.
It’s the highest inflation rate in over half a decade, going back to February of 2012 when inflation was 2.6%.
The cost of airline tickets, mortgage interest payments, and restaurants all went up.
Of course, while the government often acts as if inflation is something they can’t do anything about – pinning it all on the Bank of Canada – the truth is that the policies of the Trudeau government are a key factor behind much of the inflation surge.
Carbon taxes, pipeline delays and cancellations resulting in capacity shortages, and regulatory overreach all contribute to making energy more expensive, and that flows into the rest of the economy.
So, not only are taxpayers getting fleeced by higher taxes, but we’re also getting the ‘inflation tax’ added on for good measure.