In the News May 17

Ontario Election 2022

Information on Rising Prices

Rising costs are readily discernible on the bills which Canadians receive every month. Enbridge, Inc which amongst other things supplies gas to homes, included a note on their website regarding the current gas charges:

“You’ll notice your gas charge this month is 26.35% higher compared to the same month last year. This is because gas rates have increased by 31.62%. We do not mark up gas cost prices… The price of natural gas is determined in an open market by supply and demand. We buy gas throughout the year to reduce price movement.”

The federal carbon charge this year is also significantly higher.

Union Gas in Ontario now fully operates under Enbridge Gas Inc. In Quebec, Enbridge has interest ownership in Gazifère.

Two official websites provide information on prices. They do not offer any answers but do show the damage price inflation is inflicting on the people.

The first website from the Bank of Canada is called the “Inflation Calculator.” An amount of money required to buy a “basket of goods and services” from any year or month can be compared with the amount of money required to buy the same goods and services in another year using a dollar from 2002 as the base.

For example: $100 were required in March of 2018 to buy the basket of goods and services.

In March of 2022, the same basket of goods and services required $112.04.

For calculator on Bank of Canada website click here.

The second website from Statistics Canada is called the “Consumer Price Index by product group.” It compares prices month to month and year to year for many products and product groups using constant dollars from 2002 as the base comparison.

For example:

$100 of food bought in 2002 cost $155.50 in March 2021 and in March 2022 cost $167.50 an increase of 7.7 per cent for that year alone.

$100 of transportation in 2002 rose to cost $148.80 in March 2021 and shot up to $165.50 this past March, a single year percentage increase of 11.2 per cent.

Ontario Political Forum, posted May 17, 2022.