{"id":12574,"date":"2015-09-24T06:00:10","date_gmt":"2015-09-24T11:00:10","guid":{"rendered":"http:\/\/olduvai.ca\/?p=12574"},"modified":"2015-09-24T06:00:10","modified_gmt":"2015-09-24T11:00:10","slug":"canadas-retail-prices-jump-the-most-in-over-a-decade","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=12574","title":{"rendered":"Canada\u2019s Retail Prices Jump the Most in \u201cOver a Decade\u201d"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/wolfstreet.com\/2015\/09\/23\/retail-prices-in-canada-jump-the-most-in-over-10-years\/\" target=\"_blank\">Canada\u2019s Retail Prices Jump the Most in \u201cOver a Decade\u201d<\/a><\/h3>\n<p>When\u00a0<a href=\"http:\/\/www.statcan.gc.ca\/daily-quotidien\/150923\/dq150923a-eng.htm\"><u>Statistics Canada<\/u><\/a>\u00a0released its July retail sales report today, it dished out a few unwelcome surprises \u2013 and a bombshell.<\/p>\n<p>Among the surprises, based on what economists \u2013 though perhaps not average Canadians \u2013 had expected: Growth in retail sales was a measly 0.5% in July; and growth in June was revised lower to 0.4%, from the originally reported 0.6%. Year-over-year, retail sales rose just 1.8% adjusted for inflation.<\/p>\n<p>The saving grace, sales of auto and parts dealers rose 2% month over month. Without them, retail sales were flat \u2013 also worse than economists had expected.<\/p>\n<p>And by province, there were some ugly differences: on a year-over-year basis, not adjusted for inflation \u2013 more on that in a moment \u2013\u00a0<em>nominal<\/em>\u00a0retails sales jumped 5.7% in British Columbia and 4.6% in Ontario. But at the other extreme, nominal retails sales edged down 0.7% in Newfoundland &amp; Labrador, and slumped 3.6% in Saskatchewan and 3.7% in Alberta.<\/p>\n<p>These two provinces are the epicenter of the Canadian oil bust, where a deep recession has set in. Home sales are plunging. Layoffs are cascading through the local economies. Uncertainly reigns. And consumers are reacting\u00a0the best they can.<\/p>\n<p>And here\u2019s the bombshell: over the last six months, retail prices\u00a0have jumped at the fastest rate in over a decade.<\/p>\n<p>Inflation has obviously been too low in Canada, the US, Europe, Japan, etc. Heaven and earth must be moved by central banks to raise inflation. The Damocles sword of deflation \u2013 when money gains in value rather than loses in value \u2013 is hanging over our entire civilization.<\/p>\n<p>But OK, when you go shopping, this sort of scenario isn\u2019t quite that visible. What you see\u00a0are price increases, and some of them are very painful.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada\u2019s Retail Prices Jump the Most in \u201cOver a Decade\u201d When\u00a0Statistics Canada\u00a0released its July retail sales report today, it dished out a few unwelcome surprises \u2013 and a bombshell. Among the surprises, based on what economists \u2013 though perhaps not average Canadians \u2013 had expected: Growth in retail sales was a measly 0.5% in July; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[942,103,1861,202,426,9228,1936,4254,4255],"class_list":["post-12574","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-of-canada","tag-canada","tag-canadian-dollar","tag-deflation","tag-inflation","tag-retail-prices","tag-statistics-canada","tag-wolf-richter","tag-wolfstreet"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12574"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12574\/revisions"}],"predecessor-version":[{"id":12575,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12574\/revisions\/12575"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}