Toronto inflation rate tumbles

OTTAWA–Sharply falling energy prices took the steam out of inflation last month, cutting the overall rise in Canadians’ cost of living to 2.6 per cent, down from 3.4 per cent in September, while Toronto’s inflation rate dropped a full percentage point.

The inflation rate in Toronto fell to 2.7 per cent from 3.7, while Ontario’s rate dropped to 2.5 per cent, also from 3.7.

Consumer prices in Canada tumbled to their steepest one-month drop in nearly half a century, as falling energy prices chopped the annual inflation rate by almost a full point in September.

Source: http://www.thestar.com/business/article/541018

 

So thing are getting cheaper in Toronto! That is going to drive a nail in the side of the Union. I am starting to lean towards the Union becoming so undermined in many aspects that they cave. 

 

Go!

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9 Comments

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9 responses to “Toronto inflation rate tumbles

  1. Jeff

    Just one thought… if the union accepts a two or three year deal and the inflation rate rises but they’re stuck with a rate below the future inflation rate then they get screwed. The problem with any long term fixed rate deal is that it’s speculative. I think it’d be better to ties increases to 5% for the first x dollars where x i the cost of tuition, and the rate of inflation for the rest of their TA funding. That way there’s no loss of spending power, and the deal isn’t too expensive. Fair in my opinion…

  2. Andrew

    The union is demanding a 4% inflation adjustment. Would you like to know the last time inflation hit 4% in Canada? 1991.

    What’s the effect of a recession on inflation? Canada’s most recent bout of deflation occurred during the 1990’s recession: minus 0.23% (1993-94).

    Source:
    http://www.bankofcanada.ca/en/rates/inflation_calc.html

  3. L

    all in all you’re just another brick in the wall….

  4. teachers, leave them kids alone!!

  5. MF

    The union will just change the subject… refer to the other four points of the emo star in the post below. Until the other four are debunked, I think we’re sitting at home in the warmth…

  6. Basil El-Salviti

    Let’s not lie. If anyone is following the news as closely as I am, and I am sure there are many of you out there, you well know that in Ontario alone, by next year 50,000-80,000 jobs could get cut. Why? Well, we’ve got companies going down under, particularly the so-called “big 3”, which I concede I can only name 2 of 3: Ford and GM. Anyone want to fill the third, please be my guest. The point is, these companies are on the brink of bankruptcy.

    As a result, Ontario is experiencing deflation, and suddenly the demands the union has set out are absolutely irresponsible. I don’t want to name a particular TA, but I had one TA tell me that the 9.25% increase was met to only be about 2.7%, which at the time didn’t meet inflation. Now, it does…..lol

    CUPE 3903 ought to be responsible and reassess their demands. They are lucky that they actually have their jobs….and they are paid handsomely for part-time work. Stop the union gouging and lets get back to realistic bargaining, so that we can get back to class and earn great careers to one day fix this torn economy.

  7. Basil El-Salviti

    PS – Let’s let the university concede and provide greater job security for contract faculty, the folks who actually deserve it. Contract faculty SHOULD have increased job security, they shouldn’t have to worry about not qualifying to work at York for the next semester.

  8. Hal

    um…I can’t tell if your being facetious or not, but this doesn’t mean that things are getting cheaper. At best, it means things are getting expensive slightly less quickly.

    That said, this site is a great resource. Thanks for the updates…

  9. Hey, cool tips. Perhaps I’ll buy a glass of beer to that man from that forum who told me to visit your blog 🙂

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