Jon Miltimore (@miltimore79) is managing editor of FEE.org.
Though year-over-year inflation of consumer prices overall cooled to 3.8% in September, food prices increased 5.8% from a year ago, driven by surging prices of bakery products , fresh vegetables , pasta products , and poultry .Food prices have long been a sore spot for Canadians. Even prior to 2023, statistics showed that some 7 million Canadians, including 1.8 million children, were in households struggling to put food on the table.
Last month, Trudeau threatened to slap grocery stores with new taxes if they don’t find a way to lower food prices. The idea that corporations suddenly became greedy in the aftermath of the pandemic never passed the economic smell test, and it was recently rebutted in a Federal Reserve paper. “ prints $600 billion, grows our money supply by 32% in three years,” Poilievre said. “That’s growing the money eight times faster than the economy. No wonder we have the worst inflation in four decades.”
Basic economics teaches that increasing the money supply faster than an economy can provide new goods and services will result in price inflation, and that is precisely what we’ve witnessed. Indeed, for much of modern history, inflation was defined as expansion of the money supply, not an increase in prices . Henry Hazlitt famously explained the difference in Economics in One Lesson.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Jon Meacham: Biden believes we have to stand with Israel against terrorThis is additional taxonomy that helps us with analytics
Baca lebih lajut »
UFC heavyweight champion Jon Jones makes MSG debut at UFC 295The UFC returns to Madison Square Garden on Nov. 23 as UFC world heavyweight champion Jon Jones makes his Madison Square Garden debut.
Baca lebih lajut »
Famous birthdays list for October 19, 2023 includes celebrities John Lithgow, Jon FavreauJohn Lithgow and Jon Favreau share a birthday today. Check out our photo slideshow of celebrities and other famous people with birthdays on October 19, 2023 and find out a fun fact about each person.
Baca lebih lajut »
Members of 1974-1975 Dothan High football teams reunite, forever bonded by death of Jon DavisIndian cricket fans celebrate the sport of cricket's return to the Olympics in 2028 after a 128-year absence. Bringing the world's second most popular sport into the games helps add a huge market of fans from South Asia.
Baca lebih lajut »
Jon Bon Jovi Is MusiCares’ 2024 Person of the YearThe rock veteran is the second New Jersey native to receive the honor, following Bruce Springsteen in 2013.
Baca lebih lajut »