by Wolf Richter
Wolf Street
But it’s not in housing; it’s spread across much of the economy. And it’s not just the end of the temporary GST (goods & service tax) holiday.
Inflation has a tendency to dish up nasty surprises, and it did that in Canada today for February, on top of the nasty surprises for January and December.
I’ll just walk briefly through some of the key numbers, and then I’ll post the commentary from the Economics and Strategy shop at the National Bank of Canada, the sixth largest bank in Canada, where the frustration with this mess bleeds through thickly, right from the beginning of their discussion: “The data published this morning by Statistics Canada is enough to shake observers’ convictions about the inflation situation in the country.”