Overall inflation remains elevated, ‘slowing’ by 0.1% to 6.8%.
A few weeks ago, the Conservative Party of Canada introduced legislation that would have removed the carbon tax from the food production supply chain.
While that wouldn’t solve all problems with rising prices – some aspects of inflation are based on global conditions – it would have made a difference, since any reduction in the inflationary carbon tax would help to mitigate costs. Additionally, since so much of the food we consume is produced here at home, cutting food production costs within Canada would help.
But the Liberals & NDP voted against it.
With that in mind, the latest inflation data shows food prices in Canada rose by 11.4% in November, up from a 11.0% increase in October.
Many specific and widely-used items rose even more.
Prices for butter are up 23.1%, eggs are up 16.7%, bread is up 18.2%. Sugar and syrup are up 18.8%, lettuce is up 31.9%, and pasta is up 17.1%.
One thing that doesn’t get mentioned enough when discussing inflation is how it is cumulative.
So, even when it goes ‘down’, it merely means the pace of the price increase is slowing, not that prices are actually falling.
Further, since inflation accumulates, even a ‘slower’ rate of inflation can mean a larger overall increase.
So, Canadians are facing ongoing food price increases that dramatically exceed wage growth.
This means Canadians are becoming poorer.
The government continues to put ideology ahead of relieving the burden on Canadians
By voting against the proposal to remove the carbon tax from the food price supply chain, the Liberals & NDP made clear that their ‘climate action’ ideology is more important to them than providing relief to struggling Canadians.
This must clarify the choice for the Canadian People.
In the next election, Canadians must be aware that higher prices and a higher cost-of-living is the deliberate intention and result of the policies pursued by the Liberals & NDP.
Spencer Fernando
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