- cross-posted to:
- personalfinancecanada@lemmy.ca
who are still paying more than 20 per cent more for a basket of groceries relative to three years ago
Well, according to my grocery records, it’s a MINIMUM 20% more on most items. Some are 200% more and some are 60% more.
I said this a few months ago and I was downvoted lmao.
When grocery prices go from $4 to $8, that’s a 100% increase. Or when prices go from $2.50 to $8 that’s a 220% increase.
Might not seem so bad on paper, but when you add it all together on your full grocery bill, it’s turning the final bill from $100 to $200-250, which is bat shit insane.
I bought knock off mustard yesterday. Normal sized bottle. Cost me $8.
People down voting aren’t are the ones grocery shopping.
I also think people are missing the fact that while prices have gone up, shrinkflation has been out of control.
So while it may look like “only” a 50% increase for the package, the price per unit (often by weight) ends up being more like a 75% increase.
I have containers which wouldn’t be able to store a regular sized box of regular cereal, but now it gets to 3/4 full with the “family sized” version of the same cereal. And I’m paying double for it. Some of the cereal boxes look comically thin, like cigarette packages. And you’re paying 2-3x more by weight. Absolute insanity.
Fucking cereal box, the family size is $10.99, wtf?!?
When they are $5.49 on amazon I buy a dozen
My dogs food used to be $29.99 a case, now it’s $42.99 a case. That’s a 40% increase in two years. Crazy.
Yeah it’s crazy. I started making my own wet dog food (i give him about 50% wet and dry food). Chicken hearts or liver, carrots, a frozen veggie medley (just be careful it’s all dog safe) brown rice and pumpkin in an instant pot. Cost per unit is about 60c, but I get most of it from a farmers market which brings the cost down a lot. Takes about an hour to makeevery 3 weeks, then I scoop it out into baby food containers and freeze them, and reheat in the microwave before feeding it to my dog. He loves them and seems a lot more healthy. It really was a big win all around for me, only downside is his shit smells way worse now.
So… the cost of rent is directly tied to the mortgage rate. Are we done with rate hikes now?
the cost of rent is directly tied to the mortgage rate
Who told you that?
Well, when our glorious landlords own multiple properties with variable mortgages and rates go up, they pass on the increases to the tenants. So it’s not directly tied, but there is a connection.
Those “glorious landlords” you’re referring to should have their multiple properties seized or have their financials squeezed to the point of blood. Fuck every last one of them. People have by and large turned into greedy fucks and it’s disgusting.
If not greed, how would you describe yourself in the paragraph above?
Not really. Rent is based on demand and landlords will take as much as the market will bear. It’s pretty much independent of mortgage rates.
Case in point, rent in Southwestern Ontario exploded in 2020 & 2021, when interest rates were low and have stayed pretty level since, even with the significant increase in rates.
That stood out to me, too. Stripping out mortgage interest, inflation is at 2.1%.
It can’t completely be looked at in isolation like that, of course; part of the reason prices are lower on most things aside from groceries and housing is because people just don’t have money left over for these things after paying for essentials. If mortgage interest were lower, demand for other goods would be higher and prices would rise faster.
Still, this adds support for BoC rates to stay frozen in the near term and decline in 2024.
Can I be one to say that despite all the shit on reddit that was given about the BoC not doing enough, or doing too much… So far they’ve done a damn good job at managing this given the fact that Jesus Christ are we dealing with once in a century issues. I will also give the Liberals props and the OPC props. We know what bad leadership looked like (see Alberta) but by and large most provinces and the country have turned out surprisingly well compared to their global partners.
- Pandemic
- War in Ukraine
- Escalating climate change
Yet here in Canada on a global scale we are still prospering and doing well. I"m speaking broad generalizations here. So if you’re not doing well on an individual level I hear you, it sucks and we should be doing better.
This is the best summary I could come up with:
Statistics Canada reported Tuesday that the biggest reason for the deceleration in the cost of living was a drop in the cost of gasoline, which declined by 6.4 per cent during the month of October alone, and is down by 7.8 per cent compared to where prices were a year ago.
If gasoline is stripped out of the numbers, the inflation rate would have been 3.6 per cent in October.
That’s slightly lower than the 3.7 per cent non-gasoline inflation rate clocked the month before.
While that’s still higher than the overall inflation rate, it’s down from the 5.8 per cent annual pace seen in September.
While the pain at the cash register for staples like food and gasoline is easing, plenty of other aspects that contribute to the cost of living continue to increase at an eye-watering level.
The data agency says the typical cost of rent went up by 8.4 per cent in the past year.
The original article contains 229 words, the summary contains 156 words. Saved 32%. I’m a bot and I’m open source!
