Behind the latest CPI Numbers: Inflation Slows, But Living Costs Don’t

Behind the 1.7% headline, falling gas prices mask deeper affordability issues—from rising rents and mortgage costs to inflated essentials still burdening working Canadians.

Canada’s latest Consumer Price Index (CPI) report dropped this week, and if you believe the headlines, things are looking up. The Trudeau government is gone, Mark Carney is in charge, and the narrative from the media-industrial complex is that inflation is under control. The truth, however, is far more complicated—and much uglier.

Let’s break it down.