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2014-06-20 at NOON

Inflation rises for Thunder Bay and area in May: StatsCan

By tbnewswatch.com
91.5 CKPRWin Lunch with Danny and Laura for up to 20 people! Enter here to win on Thunder Bays Best Music 91.5 CKPRClick Here!

THUNDER BAY -- Inflation was on the rise last month in the Thunder Bay area. 

According to new data released by Statistics Canada Friday, the rate of inflation for this area rose to 2.9 per cent in May. That’s up from the 2.5 per cent recorded in April.

Only Toronto and Calgary had higher rates out of the major urban areas that Statistics Canada tracks. 

The provincial average for may was 2.8 per cent, which is higher than the national average of 2.3 per cent for that same period.

(CKPR Radio)

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Comments

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S Duncan says:
Wait til we see the inflation that increasing minimum wage has caused.

On top of that I raised my prices as well and added a special surcharge for public service employees and an additional one for Bombardier union employees.

Now I smile even more when they get the bill.
6/20/2014 12:58:49 PM
crypto says:
Meanwhile those who make more than min-wage will be lucky if they see a wage increase that can keep up with the inflation rate.
6/20/2014 1:44:43 PM
Papercut says:
@S.Duncan:

Yes...business will simply raise prices to maintain their margin.....but that only goes so far, as they become unaffordable at some point....and when everyone is doing it...this happens fast. So in effect you are cutting your own income in the long term by doing the easy thing and knee-jerking.

As for inflation....we are only getting a glimpse of the drastic inflation set to hit us in the next 12 or so months.....it is scary if you are looking long term.
6/20/2014 2:32:27 PM
The Beaver…. says:
if you include all the items not included in the count..Energy etc we are well above the
2.9% now its a little bit of a shell game
6/20/2014 5:18:55 PM
tsb says:
Minimum wage didn't actually keep up with inflation. We $11/hour it's at now is equal to $10.19 in 2010 dollars, when it was set to $10.25. So it's close, but we're starting off lower than it should be and by next year we'll be back down to less than $10 in 2010 dollars of purchasing power. (And then taxes on top of that.)

S. Duncan doesn't understand business. Any business using minimum wage increases as an excuse to raise prices is lying to you. A big part of my job is figuring out costing for products, and minimum wage increases, which are usually less than inflation, are a very minor issue compared to just the regular increases for raw materials. I've seen the costs for raw materials jump 20% up or down at various times over the years. I WISH that they were as predictable and steady in price as the minimum wage. If anything, the government is purposefully under-inflating minimum wage to keep labour artificially cheap. That's probably why so few of my co-workers make that little.
6/20/2014 6:01:44 PM
lori says:
It seems S duncan can write 10 posts on any article but if I want to criticize him, it is hit and miss if it gets posted. What exactly is the standard here as my previous posting has gone to the abyss.

So despite the fact that people like him post pretty insulting posts, I will try to keep mine homogenized and maybe it will get posted.

It did not take long for S Duncan to blame the liberals for something. Now it is minimum wage.

Let me say this.

People need to accept that minimum wage jobs exist in part to allow those with money, the chance to keep paying cheaper prices to allow all of us to maintain this standard of living.

The longer we go expanding the income gap, the worse as a whole society we will be and the more problems the world will have.

increase income for the low income earners, and they will spend the money.

Lower taxes for the wealthy and the money goes into savings.

Which one will stimulate the economy and spur growth?
6/21/2014 7:03:15 PM
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