It’s as if the government imposed a hidden 8.1% tax on you, robbing you of your hard-earned money.
The inflation tax continues to rise.
Inflation hit 8.1% year-over-year in June, the highest level recorded since 1983.
That was up from 7.4% the previous month.
The Bank of Canada had previously brought in a ‘jumbo’ rate hike, and expectations will be for more of the same given that inflation continues to increase.
Gas prices rose 6.2% in June, and are up 55% for the year.
Car prices are up 8.2%, an increase from 6.8% in May.
Service prices are up 5.2%.
Travel accommodations are up a stunning 49.7% year-over-year, and air transport costs themselves are up 6.4%, adding to the travel nightmare many Canadians are facing.
Core inflation hits record
‘Core’ inflation hit 5% in June, up from 4.93% in May.
That’s the highest since core inflation began to be recorded in 1990.
The consequences of failed Liberal policies
If a government was purposely trying to drive up the cost-of-living, it’s hard to imagine them doing anything other than what the Liberals have done.
The Liberals have imposed an inflationary carbon tax that is designed to increase every year.
They have been hostile to the energy sector, limiting energy supplies and thus driving up prices.
They have fostered an anti-business atmosphere in the country, limiting innovation and growth.
They have been hostile to free speech and a free internet, which limits creativity.
They imposed restrictions that were generally harsher, and longer, than in many comparable countries, and are still unwilling to leave the pandemic mindset.
And they massively drove up spending, flooding an unproductive economy with printed money, which history shows always results in inflation.
We have a weaker economy, with more money chasing fewer goods.
And now, we see the result:
Canadians are being robbed of our purchasing power and the inflation tax is stealing our hard-earned money.
Our entire nation is facing the consequences the Liberal agenda.
Spencer Fernando
Photo – YouTube
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