The agency for government data, Statistics Canada, has reported that the index for consumer prices in December was 4.8 percent, the highest level it’s been at in the last three decades.
Four weeks after the Liberal Party returned to power in Canada after the mid-term elections in September, Prime Justin Trudeau’s image is slipping because of the high inflation rate.
The agency for government data, Statistics Canada, has reported that the consumer prices index for December was 4.8 percent, the highest level it’s hit in more than three decades.
It has led to what’s being called “inflation anxiety.” Justin Trudeau’s enemies have utilized the hashtag #JustinFlation for a good result on their social channels.
Prime Minister Justin Trudeau is seen during a news conference in Ottawa, Wednesday October 23, 2019. THE CANADIAN PRESS/Adrian Wyld
In the first instance, since he forged his second minority cabinet in September after triggering snap polls, Trudeau’s Liberals are trailing the leading opposition Conservatives in polls that track the opposition. Based on the numbers released by Nanos Research, the ruling party is currently enjoying 28.2 percent of support. This is marginally lower than the Conservatives, with 28.5 percent.
The majority of Canadians (57%) “say that it is currently difficult to feed their household,” According to a survey conducted by the non-profit, non-partisan, and non-partisan polling organization Angus Reid Institute (ARI). The majority of respondents (29%) thought that their financial situation would worsen in the next twelve months, six percentage points more than those who felt it would improve. However, this figure was 36% in the year 2019.
The most talked-about topic of discussion, even in an ongoing fifth round of the Covid-19 pandemic triggered with the Omicron variant. There is a concern that inflation, specifically for food, will rise even more as Canada has declared that it will only accept fully-vaccinated truckers from the United States. Experts anticipate a supply shortage as a result.
The finance minister of the opposition and Conservative Parliamentarian Pierre Poilievre tweeted, “Trudeau’s vaccine vendetta is emptying grocery shelves and ballooning food prices.”
Justin Trudeau is likely to attempt to address the issue in the days to come. Lowering costs is expected to be the top priority when Trudeau hosts an online Cabinet retreat next week since “making life more affordable” was one of the highest priorities in a press release by The Minister of Finance. Minister’s Office.
Furthermore, there is a possibility that the Bank of Canada is expected to announce an increase in interest rates this week to curb the rising trend of inflation.
The measures will be needed politically for Trudeau because 39% of those surveyed by the ARI survey said they were less fortunate than the previous year. “This represents the biggest group stating that in 13 decades of monitoring by ARI,” the agency said.