Tuesday, January 17, 2023

Inflation inching down, reports StatsCan

Canada’s inflation rate declined to 6.3 per cent in December.

That compares with 6.8 per cent In November and 6.9 per cent in October.


Food prices continue to be the most inflationary category at 11 per cent overall and more than 13 per cent for produce and baked goods.


Gasoline prices were down by about 13 per cent from a year earlier.


I recall the late Eugene Whelan saying "food in Canada is a bargain" and that consumers can "either pay me (the farmer) now, or pay me later," explaining that high prices now encourage farmers to invest in increasing production.


But prices that fall short of those incentives mean production will lag and prices will remain high or go higher.


His line was taken from the tag line of advertisements for Fram oil filters.


And I was the author of those speeches.


Too bad federal Agriculture Minister Marie-Claude Bibeau nor Ontario Agriculture Minister Lisa Thompson are failing to champion farmers as did Whelan.