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Inflation Inflation is the thief that steals from our pockets every day. Over the years, since this crook has been very greedy, the result has affected our living standards. The inflation rate measures the devaluation of the currency. In Canada, about 500 items are evaluated together in a basket with their average prices and values determined, and the total price is recorded and compared to previous prices. The Bank of Canada's continuing target range for inflation is one to three per cent-although last month's inflation was 4.3 per cent. This inflation measure is called the Consumer Price Index, or CPI, for short. The Bank of Canada also has another gauge called the core inflation rate. These indices are refined periodically and have been used to determine whether the Bank of Canada raises or lowers interest rates. The core inflation rate excludes eight volatile items such as food and energy, and the...

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