The following is a copy of a letter I submitted to the local paper regarding Old Age Security ( O.A.S.) cheques with Consumer Price Index( C.P.I. ) adjustments that should be made public to all seniors however it apparently is not that important for the local paper as this letter was not published. This paper is supposed to be community minded.
Stats Canada announced on December 19, 2007 the CPI edged up 2.5% which leads to a question, will we seniors benefit by this increase in the next OAS cheque?
Economists point out the "Core Inflation Rate" which disregards volatile food and energy prices only rose 1.6% , down from 1.8% in October but on the other hand the CPI rose by 0.3 % because of higher gas prices and rising mortgage interest cost.
If seniors do receive an increase we must consider ourselves lucky. I'm betting we don't as there are too many tangibles mentioned in the statistics' report.
It is unfortunate seniors can not receive a locked in percentage increase for an entire year as do our MPPs and MPs an increase much more than what seniors receive, when ever we receive one.
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