A change in Statistics Canada’s calculation of its benchmark Consumer Price Index to fully account for rising costs of used cars yesterday helped push the national inflation rate to its highest level in 39 years. The new calculation tracked “steeper price increases for used vehicles.”.According to Blacklock's Reporter, inflation in May averaged 7.7%. It was “the largest yearly increase since January 1983” and compared to a 6.8% rate in April, wrote Statistics Canada.The agency in a May 18 report predicted the change in calculations would have an immediate impact. “Consumers have sought out used cars driving up demand,” said the report..Data also showed year over year the price of gasoline jumped 48%. The cost of fuel oil rose 95%..Conservative MPs yesterday tried and failed to have the House of Commons hold an emergency debate on the cost of living. “We have been calling for months for this government to start addressing gas prices,” said Dan Albas (Central Okanagan-Similkameen, B.C.)..“We’ve been asking for a break at the pumps whether that be through the GST or whether that would be through the carbon tax,” Albas told reporters. “This government has said no all the time.”.“Every time they reject a suggestion by Conservatives they think it hurts us,” said Albas. “It actually hurts Canadians. It hurts the people who are trying to get to work.”.Liberal MP Terry Beech (Burnaby North-Seymour, B.C.), parliamentary secretary for finance, said a fuel tax holiday would be pointless. “If we implement a tax holiday on oil and gas, energy companies could actually pocket the difference in costs,” said Beech..“There is no guarantee the savings would be passed on to Canadian consumers,” said Beech. Inflation data on other goods showed a sharp rise in the cost of groceries year over year with Canadians paying:.-13% more for bacon;.-14% more for bread;.-18% more for chicken thighs;.-19% more for hamburger;.-19% more for canned beans;.-20% more for spaghetti;.-24% more for onions;.-28% more for ketchup;.-53% more for vegetable oil;.-78% more for Romaine lettuce.“Inflation is caused by a number of factors which include supply chain bottlenecks, climate change and the war in Ukraine,” Beech, who is also the parliamentary secretary, told the House of Commons. “It is having a significant impact on the household budgets of Canadians.”.“We know this is a difficult time for millions of Canadians families,” said Beech. “Groceries are more expensive and bills are adding up.”
A change in Statistics Canada’s calculation of its benchmark Consumer Price Index to fully account for rising costs of used cars yesterday helped push the national inflation rate to its highest level in 39 years. The new calculation tracked “steeper price increases for used vehicles.”.According to Blacklock's Reporter, inflation in May averaged 7.7%. It was “the largest yearly increase since January 1983” and compared to a 6.8% rate in April, wrote Statistics Canada.The agency in a May 18 report predicted the change in calculations would have an immediate impact. “Consumers have sought out used cars driving up demand,” said the report..Data also showed year over year the price of gasoline jumped 48%. The cost of fuel oil rose 95%..Conservative MPs yesterday tried and failed to have the House of Commons hold an emergency debate on the cost of living. “We have been calling for months for this government to start addressing gas prices,” said Dan Albas (Central Okanagan-Similkameen, B.C.)..“We’ve been asking for a break at the pumps whether that be through the GST or whether that would be through the carbon tax,” Albas told reporters. “This government has said no all the time.”.“Every time they reject a suggestion by Conservatives they think it hurts us,” said Albas. “It actually hurts Canadians. It hurts the people who are trying to get to work.”.Liberal MP Terry Beech (Burnaby North-Seymour, B.C.), parliamentary secretary for finance, said a fuel tax holiday would be pointless. “If we implement a tax holiday on oil and gas, energy companies could actually pocket the difference in costs,” said Beech..“There is no guarantee the savings would be passed on to Canadian consumers,” said Beech. Inflation data on other goods showed a sharp rise in the cost of groceries year over year with Canadians paying:.-13% more for bacon;.-14% more for bread;.-18% more for chicken thighs;.-19% more for hamburger;.-19% more for canned beans;.-20% more for spaghetti;.-24% more for onions;.-28% more for ketchup;.-53% more for vegetable oil;.-78% more for Romaine lettuce.“Inflation is caused by a number of factors which include supply chain bottlenecks, climate change and the war in Ukraine,” Beech, who is also the parliamentary secretary, told the House of Commons. “It is having a significant impact on the household budgets of Canadians.”.“We know this is a difficult time for millions of Canadians families,” said Beech. “Groceries are more expensive and bills are adding up.”
