Bank of Canada rate cut odds for June fall after April inflation data
toronto.citynews.ca
Statistics Canada says the annual inflation rate was 1.7 per cent in April, down from 2.3 per cent in March.

Another news article I am not sure what to make of. There are just so many levels of complexity to this.

Since the carbon tax comes off one time only, for a one time price reduction. and thus only offset price increases this time only, will we see inflation resuming its normal limb next report?

And will we see price reductions in the supermarket to reflect this? Or was in mainly gasoline for transportation and heating that led the offset?

  • Someone@lemmy.ca
    1·
    10 days ago

    I don’t know how it was in the rest of Canada, but in BC it won’t make a huge difference either way. People in Vancouver and Victoria probably are slightly worse off, people everywhere else are probably saving money now. Last year my family netted maybe $3-400 from the rebate, but only because it was based on income data from the previous year when we both didn’t work as much as usual (parental leave). If it wasn’t removed this year, it would’ve cost us at least $200 (more if the rate went up as it was scheduled to).

    That was all based on just gas for commuting to work for ease of math. I also didn’t factor in natural gas heating as being a renter in a shared house I’m not sure exactly how much the tax contributed there.