How to Combat Rising Inflation and Interest Rates - Angela Iermieri, Financial Planner at Desjardins
More Money Podcast
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The History of Inflation in the 80s and 90s
In the 70s and 80s, there were two distinct inflation episodes that led to double digit price increases in Canada. In 1973, food prices jumped 18%. And then the Arab Israelis were in the same year, quadrupling the world price of oil caused by a massive rise in a rise in gasoline prices. So the Canadian inflation was hiked by then by 12%. Then again, following those years, we saw meat prices skyrocketing by 70% and the overall food index over 20%. Those are all numbers that we haven't heard of in the past 40 years. so we're nowhere near that. We're a lot less even though our 70% inflation rate may seem very, very
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