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|    Message 89,749 of 90,757    |
|    scary stuff to All    |
|    Food, not oil prices fuel Canada's infla    |
|    19 Feb 16 20:14:05    |
      From: brewnoser2@gmail.com              When it's our food prices that are driving the climb in inflation, it's time       we started thinking about getting much, much more self-sufficient when it       comes to cultivating food in Canada.               One would have thought that lower fuel prices - and the cost of importing from       California - would have lowered food prices. But instead, the higher cost of       food for California due to their prolonged 4-year drought, followed by       disastrous forest fires        and then floods, have made a huge impact.              Add to that our low dollar power to buy those already-pricey foods and we now       are feeling what 'global warming' can do to our lives in this country.               Time to start saving our most arable land for food crops - not flooding it for       dams or housing sprawl. We're going back to basics to survive - and it means       getting serious about it *fast*. No annual salary increases are going to keep       pace with what's        happening.       _______________________________________________       -- The Canadian Press -- Feb 19 2016                     Continued climb of fresh fruit, vegetable prices push Canadian inflation to 2%                     OTTAWA -- The consequences of the steady fall in the Canadian dollar are       starting to push up inflation, with rising prices for imported goods like       fresh fruits and vegetables leading the way.              Statistics Canada said Friday that the country's annual inflation rate reached       two per cent last month, its highest mark since November 2014.              The January year over year inflation number was up from 1.6 per cent in       December.              The agency's latest consumer price index found that inflation climbed in every       province last month at a time when the weaker exchange rate was contributing       to higher costs for imported goods.              The effects of the steep decline in oil prices have played a big part in       pushing down the loonie.              Last month, the overall cost of food was up four per cent compared with a year       earlier, with fresh vegetable prices up 18.2 per cent and fruits up 12.9 per       cent.        ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^              A closer look at the data shows that lettuce prices last month were 17.9 per       cent higher than the year before, apples were up 16.6 per cent and tomatoes up       11.9 per cent.              "Very strong indeed -- much stronger report than what we expected," Desjardins       senior economist Jimmy Jean said of the headline inflation number.              "(The increase) is largely in the usual suspects these days -- fruits and       vegetables."              Year-over-year prices moved upwards in every category of the index except for       clothing and footwear, which saw a decrease of 0.3 per cent compared with       January 2015.              Lower prices in January for natural gas, fuel oil and telephone services kept       downward pressure on the inflation reading. Natural gas was down 18.6 per       cent, fuel oil down 15 per cent and telephone services 2.5 per cent, the       agency said              The overall January inflation rate also hit the Bank of Canada's ideal target       of two per cent.              The central bank watches the inflation rate very closely whenever it makes       decisions on whether to move its benchmark interest rate. Its next policy       meeting is scheduled for early next month.              Jean said he wouldn't be surprised if inflation moved above two per cent and,       if it does, it likely wouldn't be a major preoccupation for the central bank       since it maintains a target range of one to three per cent, he added.              Statistics Canada's core inflation rate, which excludes some volatile items       such as gasoline, was 1.9 per cent in December.              The agency also released its most recent retail sales data, which showed a       drop of 2.2 per cent to $43.2 billion in December compared with November, when       sales rose 1.7 per cent. Retail sales improved 0.1 per cent month over month       in October.              The last time retail sales saw a month-over-month drop of that magnitude was       April 2010, when they fell 2.3 per cent, the agency said.              Experts said the decrease was largely due to unseasonably warm weather and       lighter than usual snowfalls in December as well as the impact of Black       Friday, pre-holiday sales events that led to stronger numbers in November.              "In the past couple of years we've kind of seen a pattern whereby (holiday)       sales tend to be brought forward to November," Jean said.              Retail sales fell in almost every sub sector, with motor vehicle and parts       dealers seeing the biggest decrease in dollar terms, the report said. They       also went down in every province except for Prince Edward Island, where they       ticked up 0.1 per cent.              Brian DePratto of TD Economics said the retail trade report underscored the       "softness" in the economy over the final three months of 2015.              "Even when taken alongside more positive December manufacturing and wholesale       reports, we nevertheless expect that the Canadian economy effectively stood       still or contracted slightly in the fourth quarter," DePratto wrote in a       research note to clients.              --- SoupGate-Win32 v1.05        * Origin: you cannot sedate... all the things you hate (1:229/2)    |
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