4/19/11

Inflation in Ontario steps on the gas

In Ontario, consumer prices rose 3.6% in the 12 months to March, after advancing 2.5% in February, according to Stats Canada. Gasoline prices in Ontario rose 20.4% in March, following an 18.3% increase in February. Prices for food purchased from stores increased 3.6% in March, after advancing 1.8% in February. Higher prices were observed for fresh vegetables as well as for bakery products.


As in past months, this is still higher than the 3.3% increase for Canada as a whole. It is also significantly higher than collective bargaining settlements in either the public sector or the private sector.


Inflation is running 1.6% higher than the annual average of wage settlements reached in Ontario in 2011,  1.8% higher than the annual average of settlements reached in 2010, and 1.7% more than the annual average of settlements reached  in 2009.


Bottom line: The incomes of working people are falling.

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