By this logic might as well take last month to compare because it’s even closer!
If you compare the same month because you expect it to be the same annual conditions then you can use the same month two years prior or three years prior… Will you look at that, that’s what I did! June to June, 15.33% over 4 years where you would have expected inflation to be 8.2% based on the BoC’s objective to have inflation at 2%.
I’m not saying year on year isn’t important to report, I’m saying they should report more than just that so people understand the difference and understand why 3% isn’t what they’re seeing.
Hell, did you know they also adjust the goods they use to compare so the 3% might be inside a basket of food but suddenly you’re not buying chicken, you’re buying tofu? Sure that’s what people do in reaction to inflation, it still gives a very skewed view of what the real inflation is. With a fixed basket of goods inflation was higher than 15% in the USA in 2022 and you know what’s funny? Anyone could have told you that the reported number made no sense when looking at the actual cost of living.
I’m still waiting on people “far smarter than you” to come and tell me I’m wrong to find it ridiculous that they only report year on year, funny they’re not here.#