Purchasing power refers to the amount of goods or services that can be purchased with a unit of currency at a specific time. Over time, inflation reduces the purchasing power of a currency.
Understanding Purchasing Power and the Consumer Price Index →With higher housing, transportation costs and food prices, many people feel the effects of inflation each time they open their wallets.
Budget Busters — The Impact of Inflation on Everyday Life By Amanda Reaume →A measure of the average change over time in prices paid by consumers, for a basket of consumers goods and services.
Why the Consumer Price Index (CPI) is Important →Canadian gasoline prices dropped year over year for the second consecutive month in March (-13.8%), the largest yearly decline since July 2020.
Statistics Canada has an interactive tool that allows you to explore your personal rate of inflation, based on the goods and services you consume →Inflation is a persistent rise in the average level of prices over time.
Price check: Inflation in Canada →← Curating the web to find the most interesting and helpful information about your money.