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Canada’s Inflation Hits A 39-Year High

The June Consumer Price Index (CPI) from Statistics Canada showed the highest annual growth since 1983.

While it was less than expected it is accelerating and is way above target.

Canada’s CPI ripped higher, largely due to the price of gasoline. Annual growth came in at 8.1% in June, the largest annual growth since January 1983. Despite markets expecting higher inflation and this being a “relief,” it was 0.4 points higher than May. Price growth isn’t just high but still accelerating.

Global prices for commodities and oil means inflation is near the peak. Economists are expecting the CPI’s growth to peak soon, however, the annual rate of growth is still 4x the target rate, eroding purchasing power at a very fast rate.

Economist are also suggesting that we may see the Bank of Canada’s overnight rate hike to 3.25% by October and for that to push the economy into a moderate contraction next year.

The first sign of inflation problems resolving will be CPI’s annual growth peaking. Then CPI needs to fall back to the target rate, without triggering a recession… then it needs to stabilize in the target range. Canada isn’t even at the point where it’s no longer rising, so the challenge isn’t close to over. It’s arguable the Bank of Canada has hardly started to tackle the problem.


Low-Maintenance Yard Alternative

Thinking of using rocks instead of mulch in your garden? This technique is amongst the most effective ways to control weeds and improve drainage, and its natural aesthetic will accentuate almost all spaces instantly.

Here's what the experts want you to know before bringing this organic material into your exteriors:


In a garden, garden rock creates a sharp, clean look. It contrasts nicely with the rich textures of the plants, unlike mulch.

Each variety type of stone has different benefits that can improve your yard and garden – whether you choose pebbles or crushed gravel.

Crushed gravel is a popular choice for paths because it has a natural feel. It can also be used to create a natural border across walks and garden beds. 


While mulch will degrade over time, rocks will stand the test of time. With a little elbow grease and a good scrub to remove built-up dirt or moss, they will look as good as new a lifetime later!

Not only do they look great but they can also withstand the seasons; rain, wind, storms, and dry hot summers are no challenge for them. 


In many instances, using rocks instead of mulch can promote better drainage in your garden and control weeds.

Mulch retains excess water, resulting in unattractive puddles that can lead to root disease and plant death. While in the summer months, the liquid evaporates quickly, producing too dry conditions, whereas rocks are hardly affected by these weather changes.

Rocks can helps drainage by preventing extra water from being absorbed by the ground beneath it, while also providing shade on hotter days to keep the soil moist.

Whatever your reasons for using rocks instead of mulch, this alternative has benefits that will work in every garden – and we expect it will stay in style for many more seasons to come.

MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.