Inflation cooling is “things getting worse, less fast”, not “things returning to how they were.”

Seeing as the government considers deflation to be not an option, the only practical fix to the crisis is a general wage gain across the entire workforce equivalent to the inflation we’ve been seeing the past couple of years. More, really, seeing as inequality had been growing prior to the pandemic as well. Prices are not going to go down. And if deflation is threatening to occur, the government will move heaven and earth to stop that from happening. Ergo, wages need to go up.

Or maybe we could move away from this irrational system, but one step at a time, I suppose.

We’re all slaves to corporate profits. Companies have become our religion.

This is the best summary I could come up with:

“We have seen the annual rate of inflation has started to come down, but that doesn’t mean that the level of prices is not [still] unaffordable for a lot of people,” said CIBC senior economist Andrew Grantham.

Rents may now be the biggest concern on the Canadian inflation front," wrote BMO’s chief economist Douglas Porter.

August to September data highlights how impactful even a minor rate increase is on affordability," said James Laird, co-CEO of Ratehub.ca and president of CanWise mortgage lender.

Consumers and especially businesses surveyed by the Bank of Canada say the full weight of all those rate hikes has yet to fully hit the economy.

Karl Schamotta, the chief market strategist of the financial payments company Corpay, says many experts believe Canada is headed for a soft landing (a scenario where the economy slows enough to get inflation under control but not so much that it slips into a recession).

Grantham says if we really are through the worst of the inflation crisis, then maybe the Bank of Canada can start gradually lowering borrowing costs.

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