My recent shout-out asking for examples of inflation produced a full shopping list full of examples. We know inflation is on the rise – we started the year with prices rising 1 per cent year over year and hit 3.6 per cent in May. Now, let’s look at some specifics, as reported by readers of this newsletter:
- A reader in Woodbridge, Ont., reports that a five-litre jug of canola oil recently sold at one national retailer for $13.99, up from $11.99 a few weeks ago and $6.99 in the past.
- A reader in Kamloops, B.C., found that carpeting went from $3.57 a square foot in January to $4.50, which was negotiated down to $4.20.
- A men’s haircut for one reader has climbed to $40 from $30.
- A pint of beer at a restaurant in Guelph, Ont., has gone from $8 to just over $10.
- Packs of bacon purchased by one reader have remained steady in price, but the weight has fallen to 375 grams from 500g.
- An Ottawa reader offered a bunch of examples of food inflation, including a jump in the price of chicken thighs to $25 a package on average from $18; yeast has risen to $5.49 from $4.50 or so.
- A fireplace insert will cost a reader in Victoria close to $7,000, compared with $4,000 for a friend who bought something similar two or three years ago.
- A pack of generic paper towels has risen to $5.99 from $4.99 a few months ago, a reader reports.
- A dozen bagels purchased by one reader at an independent bakery have gone from $11.99 to $15.99 in a year.
Statistics Canada has built a calculator to find your personal inflation rate, based on your monthly expenses. I calculated our household inflation rate at 3.8 per cent. What’s yours? Let me know at email@example.com.
PERSONAL FINANCE COLUMNIST
The Globe and Mail, July 20, 2021