Inflation
Friday, September 21st, 2007In 1981, the 50 dollars I got from my grandma is worth the equivalent of 111 dollars now. You can calculate this here:
http://www.bankofcanada.ca/en/rates/inflation_calc.html
So how do our wages reflect this figure? Well, minimum wage was $3.50 in 1981 which means that at the rate of inflation, being as it’s $8.00 now, our burger flippers and gas jockeys in Ontario have gotten a little over 23 cents in the last 26 years. These figures are here:
http://srv116.services.gc.ca/wid-dimt/mwa/menu.aspx
Now, these figures being as closely linked as they are can only mean one thing: Fast food chains control the rate of inflation.






