A review of inflation: Hitting inward migrants the hardest?

The chart shows three things. One, it shows the inflation rate on the product or service going back to 2002 (2002=100), so if the inflation rate is lower in New Brunswick in 2022 that means over a 20 year period the cost has risen slower here. It says nothing about the underlying price. If the cost of a product or service was higher in 2002 and the inflation rate has been the same since, the spread would remain the same. The second thing it shows is the increase in the inflation rate between 2019 and 2022 and the third thing is the difference in the growth of inflation between New Brunswick and Canada over that timeframe.

Overall inflation increased in New Brunswick since the pandemic faster than the rest of the country but only slightly (4%).

The price of fuel oil and other fuels increased 20% faster here but is still below the national inflation rate since 2002.

Public transportation, taxi service, etc. is up sharply here compared to the country overall and inflation since 2002 is now higher here. Look at taxi services. Even public transit. As we look to attract more folks that are likely to use public transit and taxi services - we pump up the price.

The fish and seafood inflation could eventually cause a revolt. How can inflation on fish be substantially higher in the place it is produced? You might end up with someone calling for export controls. Leave some for the home team, guys.

Education? Tuition fees? That one seems particularly concerning given the importance of PSE. And, no, this isn’t ‘catch-up’ inflation - on both overall education costs and tuition New Brunswick’s inflation rate is higher than the country overall (2002=100). I know the sector will say rates are still lower here but - as with the case of rent - the direction of travel is not good.

As for rent - one of the top costs for households that don’t own their accommodations - the inflation rate since 2019 was nearly double the country overall (92% higher). We caught and have surpassed the country for the inflation rate since 2002.

Think about many of the folks moving here (interprovincial and international). Then let’s pump up the cost of taxis, public transportation, rent and education.

This stuff matters, folks.

Oh, at least the cost of recreational cannabis has dropped substantially faster than the rest of the country. Maybe we can promote that.