There are about three million Canadians working today who have no idea what real inflation looks like.
Since the mid-1990s, the Consumer Price Index has stayed pretty close to the Bank of Canada’s rough target of two per cent. That remained true in October, when the CPI was 2.4 per cent higher than a year earlier, Statistics Canada reported on Nov. 23. The “core” measures that policy makers created to remove noisier components of StatCan’s price basket were even closer to the bull’s eye, suggesting the central bank will carry on with its plan to raise interest rates as fast as economic conditions allow.
The newest members of Canada’s labour force — ages 15 to 24 — might be wondering what the fuss is about.
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