Inflation peaked at 14 per cent in Canada and the U.S.
Divergences between expected inflation and actual inflation contribute to economic inefficiencies that harm economic growth.
In countries whose currencies have risen against the U.S. dollar, there’s “flow-through deflation” as imports get cheaper.
A higher target rate will raise uncertainty about future inflation and be costly for the economy.
Once again, Calgary city council has raised property taxes beyond the rate of inflation. No surprise. Over the past seven years, only once, in 2007, has council approved a tax increase below Calgary’s inflation rate.
It's not your imagination. Your property taxes really are shooting higher.
For those who haven't paid attention to their property tax bill until recently, let me offer some calculations: Had the city and province stuck to inflation-only increases starting in 2007, a homeowner with a $2,500 property tax bill in 2006 would see a $2,858 bill this year. Instead, the charge will be $3,430, or an extra $572. The cumulative effect over seven years is an extra $1,538.