When prices rise, people’s purchasing power decreases over time. This can be seen by looking at the average price increase in a basket of goods and services during some period or another – if it were 5% then 1 unit would have been worth less than before because there was an inflation rate higher than what’s considered normal (around 2%). There are two common types: mild/medium degrees which happens when we see 3-5%, but worse cases being around 6%.
Current Canada inflation rate
7.60%
July 2022
Previous inflation rate
8.10%
June 2022
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Annual |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 5.1% | 5.7% | 6.7% | 6.8% | 7.7% | 8.1% | 7.6% | ||||||
| 2021 | 1.0% | 1.1% | 2.2% | 3.4% | 3.6% | 3.1% | 3.7% | 4.1% | 4.4% | 4.7% | 4.7% | 4.8% | 3.4% |
| 2020 | 2.4% | 2.2% | 0.9% | -0.2% | -0.4% | 0.7% | 0.1% | 0.1% | 0.5% | 0.7% | 1.0% | 0.7% | 0.7% |
| 2019 | 1.4% | 1.5% | 1.9% | 2.0% | 2.4% | 2.0% | 2.0% | 1.9% | 1.9% | 1.9% | 2.2% | 2.2% | 1.9% |
| 2018 | 1.7% | 2.2% | 2.3% | 2.2% | 2.2% | 2.5% | 3.0% | 2.8% | 2.2% | 2.4% | 1.7% | 2.0% | 2.3% |
What is Inflation?
Inflation is the rate at which prices for goods and services rise. It’s sometimes classified into three types: demand-pull, cost push or built in – but what does this mean? Let us take an example of someone who owns some property that has appreciated due to inflation over time (this would be positive). They may not want their assets lost so easily through bankruptcy protection if there was no increase with wages; instead preferring higher costs than what they had before where everything balance out evenly between buyer/seller.
- Inflation is the rate at which prices for goods and services rise.
- It can be classified into three types: demand-pull, cost push or built in (sometimes called core).
When inflation is measured in terms of the price changes for a single product or service, it can be difficult to understand how human needs are met. However by measuring overall impact on economic activity over time period rather than just one component at once we get an idea about what impacts people’s lives have had from this change and why they matter so much more then simply being able buy bread outright instead getting charged higher prices every month due electricity bills going up 3% last year alone because businesses added fees onto their products without telling anyone first!
