Personal Finance

Canada's inflation rate turned negative in April for first time since 2009

  • Last Updated:
  • Jun 17th, 2020 12:03 pm
Sr. Member
Jun 4, 2013
532 posts
205 upvotes
Vancouver
jdaking wrote: Really? The only thing I buy now is groceries and I have noticed price keep going up in the last few years and few months.
Yup and there aren't many items on sales too. I guess why put them on sale when the shelf is always half empty and most stuff are out of stock.
Member
Feb 8, 2015
365 posts
312 upvotes
Manotick, ON
I think we need to look at their basket break down because everything has a covid fee now.
Deal Addict
May 16, 2017
1426 posts
1779 upvotes
garmium wrote: I think we need to look at their basket break down because everything has a covid fee now.
Cost impact of COVID - maybe - a "COVID Fee" - no, not really.

https://www150.statcan.gc.ca/t1/tbl1/en ... 1810000201

Compared to PREVIOUS month (note, the overall stat on inflation is compared to the same month a year ago).

Beef up,
Chicken down,
Gasoline up (but way down from a year ago),
...
Deal Addict
May 2, 2013
1439 posts
2088 upvotes
Toronto
good time to buy clothing and furniture.
Jun 17, 2020
On the whole, however, many items saw their prices plunge in May after cratering the month before, too.

Clothing prices fell by another 1.8 per cent, bringing the two-month decline to 7.6 per cent — the biggest plunge on record, Reitzes noted.

Shelter costs fell by 0.3 per cent, mainly because of a 0.8 per cent decline in rent, the biggest drop in rental costs in 70 years worth of data. And the price of phone services and furniture fell again, by another 2.4 per cent and 3.3 per cent.
https://www.cbc.ca/news/business/inflat ... -1.5615362
Deal Fanatic
Apr 16, 2007
7870 posts
3137 upvotes
Financial District B…
Soichiro wrote: Traveler accommodation, down by almost 10 per cent.
I have a buddy that works as part of a managerial team for one of the big hotels (1400 rooms) in downtown Toronto within the financial district and 80% of the staff there has been laid off and more than 60% of them may not be asked to return even after the covid pandemic ends.
Many of the rooms are at less than half price and all the convention halls are reduced significantly. The big meeting rooms we're a major revenue stream for the hotel and now that no business sector is booking or holding seminars, conventions or events they are suffering badly.
I think the hotel and hospitality sector is down way more than that stated 10%.
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