I find that Avner Mandelman writes a pretty good columnn for the Globe. However, that's not really saying much, because he writes about investing, a topic about which I know relatively little.
However, he ventures out today with the bold assertion that Canadian inflation is running at 6-8%, and has been doing so consistently for some time. He bases this on examples; dinner at a restaurant, plane tickets to Paris, yogurt.
Since his examples are from the early 80's, and inflation hasn't been 2-3% for all that time, obviously you'd suspect to for these prices to have increased by more than 2-3% annually over 25 years. Plus, these are bad examples - oil prices, increases in demand consistently above the rate of economic growth, etc.
Further, any introductory macro course will probably talk about the inherent upward bias in the CPI, which stems predominately from the availability of substitutes and quality improvements.
Finally, if inflation is really 6-8%, what the heck are the army of statisticians charged with measuring the CPI actually taking into account? While I'm not a big fan of Statscan, they're not incompetent, and aren't just making up prices off the top of their heads.
Now, I was born in late '86, so I certainly can't quote prices from 1982, but the product with the longest track record in my addled mind conforms well to a 2-3% target: Two liters of Pepsi.
POSTSCRIPT: Perhaps more of a concern, he does assert that most people view inflation in the 2-3.5% range - what he ascribes as the common view. I'm becoming increasingly worried that 2% inflation is seen as license for the Bank of Canada to hit the gas. That 2% needs to be lowered to 1%.
POST-POSTSCRIPT: Honestly, I am actually studying for exams. Really.