Inflation

Another article for the benefit of seniors 65 and over that was not printed.

Statistics Canada just released the latest inflation rate. For the month of October it rose 0.5% from 1.9% the month before. I must draw one's attention to Canada's Consumer Price Index and their report it rose to 2.4% last month indicating it's the highest its been in two years. That is rather interesting to a senior who never received an increase in their Old Age Security cheques over that two year period. The Consumer's Price Index indicated on 7 of 8 components checked prices were up including property taxes and electricity that pushed shelter costs up 2.8%. Higher prices for meat, fresh vegetables, and restaurant meals increased food prices by 2.2%, and rising gas, automobiles, and insurance costs pushed transportation costs up 4.6%.

It should be noted the 7 components checked are of vital concern to seniors 65 and over who now should expect a decent Old Age Security increase BUT don't count on it as the system used is not right for seniors.