I would love to see a little inflation and, yes, I would be happy if prices ticked a little higher, writes CTV News' Chief Financial Commentator Pattie Lovett-Reid.
TORONTO -- I would love to see a little inflation and, yes, I would be happy if prices ticked a little higher.
Anyone with a loan or mortgage could benefit from higher inflation as it often leads to higher wages. With higher wages, loans and mortgage will use up less of your after-tax take home pay and result in more money in your pocket. Of course, if we see falling inflation, wages are not going higher and result in a higher cost to service the debt you have. In a world of zero inflation some employers could also cut wages.
While inflation overall has not moved, we have all experienced paying more at the grocery store and this in turn leads to food insecurity. This is tough on Canadian families during the pandemic as it has cost more to produce, process and distribute food. Grocers have had to implement physical distancing measures and procedures to safeguard our health add to this increased automation and the result has been that costs have gone higher.
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