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Imagine the outrage if the government announced a 3.4% tax hike on everything. Well, that’s the equivalent impact of how inflation is devaluing your money and reducing your buying power. For some time, the Bank of Canada and the Liberal government have been claiming inflation was ‘low.’ They wanted to pretend that they could print a gargantuan amount of money and run massive deficits, all without the value of our money being degraded. And yet, that fiction – like all fictions – could only be sustained for so long before reality intruded. What is the reality? Here’s what Stats Canada said about it – and note how they try to downplay it: “The Consumer Price Index (CPI) rose 3.4% on a year-over-year basis in April, up from a 2.2% gain in March. A significant proportion of this increase was attributable to a steep decline in prices in April 2020, as the monthly CPI rose 0.5% in April 2021. On a seasonally adjusted monthly basis, the CPI rose 0.6% in April. Excluding energy, the CPI was up 1.6% year over year in April, following a 1.1% increase in March.

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