Ottawa, ON – In December 2020, right before Canadians were hit with the worst inflation in four decades, Mark Carney predicted that inflation was “unlikely to materialize to a serious extent.” Now, after a year as Prime Minister, inflation has again surged out of control with the largest one-month increase in over a year.
Overall inflation rose to 2.4 per cent in March, up from 1.8 per cent the month before. That includes a massive surge in the price of gas, which increased 21.2 per cent on a monthly basis, as Canadians continue to pay 15.6 per cent more at the pump compared to the US.
That means higher costs at the grocery store, with prices rising 4.4 per cent year-over-year, up from 4.1 per cent in February. Canadians with fresh vegetables on their shopping list were hit the hardest with prices increasing 7.8 per cent, the biggest increase since August of 2023.
All of this adds up to the highest food price inflation in the G7 for the fourth month in a row, proving that higher inflation continues to be a made-in-Canada problem. Money-printing deficits inflate the cost of everything, while Liberal taxes on food and gas increase costs even more, giving us the worst household debt in the G7.
Canadians were told to judge Carney by the costs at the grocery store, and since then, prices have only continued to soar. Canadians can’t feed themselves on illusory promises or run their cars on empty rhetoric; we need results that bring down the cost of government to bring down the cost of living.