[ZTWsquared]

Frost__2001,Jun 20 2006, 03:13 PM Wrote:[i]Gas prices push inflation rate up to 2.8% in May
Higher gasoline prices pushed inflation to 2.8 per cent in May -- up from 2.4 per cent the month before, Statistics Canada said Tuesday.
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Crappy reporting - reading this you'd actually think the inflation rate for the month of May was 2.8%. It wasn't - not even close.

Just to put things into perspective ...

What they really mean to say is that the inflation in May represented an annual rate of 2.8% (they were expecting an annualized rate of 2.7%) - or in raw numbers approximately 0.0023% for the month.

Put another way - considering the commodoties they use to calculate inflation, what cost you $100.00 in April cost you $100.23 in May.

Considering it wasn't all that long ago we saw double digit inflation year after year after year (before the government figured out how to control it) I for one don't see any real reason to get upset.




Well, okay - maybe it was a long time ago (late 70s early 80s) ... but we should all feel good that we will never see the likes of that kind of skyrocketing inflation again.