For the U.S. consumer the economic boost provided by lower gasoline costs is hitting at the perfect time. The Federal Reserve just ended their extensive QE stimulus program at the end of October with hope the economy could stand on its own.
There’s been a lot of attention paid to how Canada’s oil boom has helped make gasoline cheaper. What many people may not realize is that the boom is also driving up the prices they pay for burgers and steaks.
Following in the wake of today’s decent US CPI report, there is a chance core inflation could come in hotter than expected in Great White North, though the persistent fall in oil prices will keep a lid on headline inflation.