Wages and Prices Under Canada's Anti-Inflation Program
Canada reports progress one year into the Anti-Inflation Act as wages keep pace with prices. The program aims to cut inflation from 10.8 percent to 8 percent or lower, with guidelines for prices profits incomes and rents. Provinces back the plan and most settlements align with the targets. A gradual wage slowdown is expected as inflation declines.
Real incomes rise 3.6 percent this spring in Canada
Since the start of the anti inflation program the average Canadian has gained buying power as lower wage and price increases reduce the erosion of earnings. Real incomes reflect actual earnings minus higher consumer prices and are the best measure of how households meet bills. This spring real incomes are up 3.6 percent over last year.
Canada’s anti-inflation drive aims at lower prices
Last year prices rose sharply with 20 months of double digit inflation. By August 1975 the CPI increased 6.2 percent, and the program seeks an 8 percent wage rise plus productivity shares, targeting 6 percent inflation or less in the second year through cooperation and policy controls.
Also Mentioned on This Page
Anti-Inflation Board
Government of Canada
Gouvernement Bu
Canada