Inflation rose again in October, hitting an 18 year high at 4.7 per cent. Meanwhile, Justin Trudeau is on his way to hang out with American geriatric Joe Biden to talk about getting the noncompliant jabbed with experimental mRNA technology.
According to Statistics Canada, the “Consumer Price Index (CPI) rose 4.7 per cent on a year-over-year basis, up from a 4.4 increase in September,” marking the most significant gain since February 2003.
While most factors matched the increase in September, increasing oil and gas prices have tipped October’s inflation to a nearly two-decade high.
In October, energy prices were up by 25.5 per cent year over year, driven by skyrocketing gasoline prices. As Statistics Canada notes, gasoline has risen by 41.7 per cent since October last year due to “shortages in other energy sources, such as coal and natural gas.”
Indeed, natural gas prices have risen 18.7 per cent on a year-over-year basis.
“On a monthly basis, the CPI rose 0.7% in October, the largest gain since June 2020 (+0.8%), when energy prices began to recover following steep declines during the early months of the pandemic. On a seasonally adjusted monthly basis, the CPI rose 0.5%,” explains Statistics Canada.
Gasoline isn’t the only commodity quickly becoming unaffordable. The price of meat is also exploding.
According to Statistics Canada, Canadians are now paying 9.9 per cent more for meat products, with fresh or frozen beef rising by 14 per cent, processed meat by 8.5 per cent, and bacon increasing by 20.2 per cent.
StatsCan cites labour shortages as a significant contributing factor to this inflationary environment, as well as supply chain problems causing the cost of raising livestock to rise similarly.
Record deficits balloon inflation to 18-year high of 4.7% as the cost of government drives up the cost of living. pic.twitter.com/A0NVrKXMJf
— pierrepoilievre (@PierrePoilievre) November 17, 2021
Overall, Trudeau remains indifferent to the grievances of Canadians being smothered by an imploding economy.
Recently, he attended the COP26 conference in Glasgow where, instead of promising to help Canadians to the detriment of Globalists’ climate agenda, he vowed to put even more pressure on the oil and gas industry.
This video will go down in history as Trudeau's official invitation for Alberta to leave the country. pic.twitter.com/zqicvsxyaf
— Keean Bexte (@TheRealKeean) November 1, 2021
“What is even better than pricing emissions is ensuring that they never happen in the first place,” Trudeau said while speaking to a crowd of globalists in Glasgow for the COP26 summit.
“Which brings me to my next major commitment, we’ll cap oil and gas sector emissions today and ensure they decrease tomorrow at a pace and scale needed to reach net-zero by 2050.”
“That’s no small task for a major oil and gas producing country,” Trudeau continued.
“It’s a big step; that’s absolutely necessary.”
