On Parliament Hill

Inflation Continues to Rise

  • Ted Falk, Author
  • Member of Parliament, Provencher

This week the consumer price index (CPI) once again showed inflation on the rise in Canada, with this week’s numbers showing it up to 4.0%.

After eight years of Justin Trudeau, Canada’s inflation is not only high but broad, and Canadian households are facing thousands of dollars in new costs because of massive inflationary deficits and punishing tax hikes from this Liberal Government.

The overall cost of groceries has gone up by 6.9% since last year – with some individual food costs soaring exponentially higher.

Gas is up 4.6% in just the last month.

The price of housing also continues to skyrocket, with rent up 6.5% and mortgage costs up by over 30%. After declaring victory in July, it’s now clearer than ever that the Trudeau Liberals have failed to bring home lower prices for Canadians. Should the Bank of Canada once again increase interest rates it could further stress the housing market with families no longer able to pay the interest on their mortgages – the same interest rates the government assured them would stay low.

To make matters worse, Justin Trudeau hit Canadians with a double tax hike this year by raising the cost of his first carbon tax and imposing a new second carbon tax on Canadians. We know that as Trudeau continues to work towards his 61 cent/L tax, the cost of gas and groceries will continue to rise as he drives prices even higher with those additional costs passed on to consumers.

Food prices?

The Liberals made a great show of summoning and parading grocery chain CEO’s and demanding action to lower food prices. However, this was just more political theatre from the party of smoke and mirrors. The Liberals have met with these same CEO’s or their lobbyists 57 times over the past two years, presumably with no ask and certainly no results for hungry Canadians. Moreover, the solitary bullet in the government’s gun is to raise taxes on these corporations, who will simply pass on those costs to consumers – similarly to what this spending-addicted government has done to Canadian taxpayers.

Conservatives have been warning that sky-high inflation would be the result of failed Liberal-NDP policies for years. Our warnings have been echoed by former Liberal finance minister John Manley, former Bank of Canada Governor David Dodge and even current Finance Minister Chrystia Freeland herself. Freeland claimed to understand this – though clearly either she didn’t; or just doesn’t care.

Freeland’s last budget increased an already record deficit by $60 billion in new spending. She admitted there was no path and no plan to return to balance. The Liberal-NDP Government will continue to pour billions of dollars of fuel on the inflationary fire increasing the cost of everything.

After eight long years it’s clear Justin Trudeau and his government just aren’t worth the cost.

But there is good news. It wasn’t like this before Justin Trudeau, and it won’t be like this after he’s gone.

Commonsense Conservatives (and only Conservatives) will bring lower food, gas, and home prices for Canadians by balancing the budget and axing Justin Trudeau’s taxes. We will bring home powerful pay cheques by lowering interest rates and getting inflation under control with a new dollar for dollar rule for government spending. We will make life affordable again.

We have clear, concrete plans to achieve our goals and we are laser focused on easing the financial burden on Canadian families.

As MP for Provencher, I will continue to stand up for families and for commonsense fiscal policies so you and your family can finally get ahead.