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What used car prices can tell us about inflation in Canada

The price of an old Tacoma truck has skyrocketed in the past year, but it's not just trucks. The price of many other consumer goods have also gone up. So just how worried should we be about inflation?

How worried should we be about inflation?

A combination of high demand and low supply when it comes to used cars in Canada means older vehicles are not as cheap as they used to be. Buying new may not be the best deal for drivers in 2021. (Dima Sidelnikov/Shutterstock)

The prices of many consumer goods are going up in this country, according to Statistics Canada.

If you've tried to look for a used car or truck lately, you may have noticed that some "previously loved" vehicles are selling for prices closer to their brand new compatriots on the lot. 

Until the odd economic circumstances brought on by the COVID-19 situation clear up, some prices are expected to run hotter. 

  • The Cost of Living ❤s money — how it makes (or breaks) us.
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Host Paul Haavardsrud talks to Scotiabank economist Rebekah Young about pandemic inflation and whether it's a spectre that's here to stay or just briefly visiting.


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