Yes if we just increase interest rates enough eventually people will stop all their foolish discretionary spending on groceries and starve to death, solving the inflation problem forever.
this post was submitted on 19 Sep 2023
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To be fair, I think this one can be credited to OPEC.
Yup. Saudi Arabia has launched Vision 2030 to diversify and open up the economy. But to achieve their goal, they need high oil revenues.
This is the best summary I could come up with:
Canada's inflation rate jumped higher last month, to an annual pace of four per cent, mostly because of an increase in gasoline prices.
Statistics Canada reported Tuesday that the inflation rate ticked higher by 0.7 percentage points, in large part because gasoline prices increased on an annual basis for the first time since January.
Outside of gasoline, prices for other essentials like food and shelter continued to increase.
There was one source of comparable relief however, from an unexpected place: the grocery aisle.
The price of food purchased from stores increased by 6.9ย per cent in the past year.
In August specifically, the price of food actually declined by 0.4 per cent from July's level.
The original article contains 238 words, the summary contains 114 words. Saved 52%. I'm a bot and I'm open source!