Welp. Interest rates are staying steady (at least) until the next announcement in October.

I don’t feel like inflation has decreased. Housing is still exorbitant. But there haven’t been mass layoffs, so we’ve got that going for us.

  • LeFantome@programming.dev
    81·
    1 year ago

    Inflation has abated significantly. Inflation is not prices, it is the rate that prices are increasing. Prices staying high is not inflation.

    The levels that rent has reached is the real killer. That will continue to roll out across the population for years to come and is going to be a massive standard of living killer.

      • sbv@sh.itjust.worksOPEnglish
        3·
        1 year ago

        In fairness, that is happening because people are afraid to buy houses right now.

        A lot of people have been priced out of home ownership. Even if they could qualify for a loan, there isn’t housing available at reasonable prices in a number of major metros.

          • Pyr_Pressure
            1·
            1 year ago

            If I were to buy a house somewhere and rent it out, the rent would cover the mortgage not my own rent to live somewhere else.

    • sbv@sh.itjust.worksOPEnglish
      2·
      1 year ago

      The July inflation report recorded a slowdown in grocery inflation, but Canadians continue to see sharp increases at the supermarket. … Prices were up 8.5 per cent in July from a year ago

      From the G&M.

      • zephyreks
        1·
        1 year ago

        Isn’t M/M inflation down for everything except mortgage payments?

        • sbv@sh.itjust.worksOPEnglish
          1·
          1 year ago

          This is in response to the statement above:

          Prices staying high is not inflation.

          Prices for necessities are not just staying high. They are continuing to increase. Month over month increases may be trending down, but inflation for food is still over 8%.