Inflation, retail sales numbers bring glad economic tidings for Christmas season
That is the headline I woke up to this morning and here are some quotes from the story, "Inflation at 2.5% in October." "North American consumers are showing signs of emerging from hibernation" "StatsCan reported retail sales JUMPED 0.6% in September"
Is it just me or does this sound like the spin doctors at work? The people I know in retail and other businesses that don't rely on government contracts aren't seeing these results.
When you dig into the story a bit, all of the reported inflation is being driven by items that there is no competition on.
"Energy costs were responsible for more than half of the inflation increase" - "Transportation costs roase 4.6%" - "electricity up 8.1%" - "car insurance up 4.9%" - "property taxes up 3.5%" - "food up 2.2%"
Is there really a light at the end of the tunnel or is it a train about to hit us head on?
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