Consumer Prices Rise

It has been eight months now, since the Canadian dollar attained parity with its American counterpart, for the first time in decades.

Since then it has been within about three cents or less of parityand, a new Bank of Montreal price comparison shows Canadians still havea rip-off argument.

We are paying about 18 percent more, for everything from vehicles toa cup of coffee, down only about 6 percent from the bank’s earlier study.

BMO economist Doug Porter won’t go so far, as to say Canadians are being exploited.

However, he does say retailer’s argument, they needed time to clear high cost inventory doesn’t cut it anymore.

He also says Canadian consumers may be part of their own problem suggesting, because they’re used to higher prices, it allowsretailers to chargewhatthey can get.

Meantime, the loonie is move ahead again today, up 38 basis points, to 98.19 cents U.S.