RISING ENERGY COSTS DIFFICULT TO DIGEST . . . Inflation hasnt been a significant issue in Canada for 30 years, but on Friday Statistics Canada reported that its consumer price index, a device used by the federal agency to track the cost of core purchases, had hit an annual rate of 2% for the first time in two years. The chief culprit was energy costs, particularly in Ontario, where both electricity and natural gas prices have jumped this year. But food prices were also higher, as were some other purchases. The news from Stats Canada was important because it provided a possible signal to the Bank of Canada for its trend-setting borrowing rates. But the data is also deceptive, because it buried the significance of energy costs and their relationship to average Canadian families, particularly those in Ontario who are struggling to deal with skyrocketing utility bills. Full story here bit.ly/1m6gpw4
Posted on: Sat, 24 May 2014 13:41:40 +0000
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