As a foreigner who follows the Canadian news I saw on https://www.ctvnews.ca/business/economists-expect-rise-in-inflation-as-price-growth-fight-enters-new-phase-1.6517322 that the Canadian inflation rate is 2.8% which surprised me as in our country it is around 7%.
If so then how did Trudeau do it? How did he soak up all the money he printed during Covid?
Does that mean that housing and cost of living pressure has also been eased?
Would like to know your thoughts.
Also worth noting that while getting inflation under control is a good thing, people won’t feel the relief for a bit yet. Getting inflation lower doesn’t mean prices are going to drop to what they were last year, it means they’ll only go up a little this year instead of a lot. Since wages tend to lag behind cost of living, at least for the majority of the working class, it’ll be a while yet for people to settle in to their new financial situation.
Who’s getting raises to match costs though? I’m in construction and they’re “desperate” for people, but haven’t raised rates for years. We actually went through two rounds of pay rates reduced by 10% in 2016-17. I’m earning 20% less than a did a decade ago, and they’re “desperate” for me to give them all sorts of freebies, while I barely get half time for hours. The economy is a mess.