When market players look at inflation, they tend to ponder what it means for consumer spending and monetary policy.
Unions, on the other hand, look at how it hits your pocketbook. And on that score, it’s not looking good.
Annual inflation in Canada picked up in June to 2.4 per cent, according to the latest reading from Statistics Canada. Driven by higher food, shelter and transportation costs, that’s the fastest pace in 28 months, and up from May’s 2.3 per cent.