Political Cartoon
Background of the Political Cartoon News Story
At the beginning of the summer, it became known that gas prices in Canada had reached an all-time high. Canadians in most parts of the country noted that prices were either over $2 per liter or approaching that level. The Consumer Price Index (CPI), excluding the decline in gasoline costs, rose a record 5.8%. On a monthly basis, consumer prices rose 0.6%, slightly above forecasts of 0.5%. The rate has now declined after jumping 1.4% in March.
Analysts attribute the situation to rising food and housing costs, which have jumped because of rising energy and commodity costs. Canada’s annual inflation rate reached 6.8% in April 2022, the highest level since January 1991 and above market expectations of 6.7% (More Inflation: Political Cartoons, 2022). Finance Minister Chrystia Freeland warned Canadians at the beginning of November that it will not do any good in the coming months as rising interest rates slow down the once-hot economy and leave many people out of work. Freeland said that the recent rate hike by the Bank of Canada to curb ultra-high inflation would increase the cost of borrowing for both businesses and consumers, which would cause a shock to the economy (More Inflation: Political Cartoons, 2022). At the Automotive Industry conference in Windsor, Ontario, Freeland spoke about the threat of rising unemployment and mortgage rates, events that could affect many families and upcoming obstacles. She said he would be honest with people.
The acceleration of inflation is mainly due to a rise in gasoline prices. Gasoline prices rose 12% in May. Excluding this fuel, the consumer price index rose 6.3% year-over-year in May after rising 5.8% in April. National grocery prices rose 0.8% in May. Clothing and footwear rose 2.2% for the month. Transportation costs increased by 3.5% over the period. Home prices rose 0.7%. Earlier on June 22 (More Inflation: Political Cartoons, 2022). These indicators have broken a record of 40 years ago.
Artistic Analysis of the Political Cartoon
This cartoon’s content seeks to convey Canadian society’s concerns about the rising inflation caused by the geopolitical events of 2022. The sense of wariness that this image evokes is due to the author’s use of vivid symbolism. First, inflation, represented as an octopus monster, allows viewers to understand that this phenomenon is uncontrollable and unexpected. It is known that inflation is a predictable and well-known economic phenomenon with which governments have many levers to deal effectively (Inflation: Political Cartoons, 2021). Nevertheless, in this cartoon, the author hints that the depreciation of finances is of record proportions and the level of impact on a country’s economy and that the standard economic method may not work.
Secondly, the girl’s character symbolizes the Canadian economy minister and her colleagues, who have recently publicly expressed concern about the situation. The fact that the girl is portrayed alone shows that not everyone in the country’s political structure understands the scale of the problem and is willing to act together. Finally, a striking symbol is a hose spewing money, which shows that the government is trying to use the method of additional emission in order to mitigate the effects of inflation (MacKay, n.d.). However, the imperturbability of the octopus image shows that this method is not effective.
Thus, the overall impression given by the author of the paper is that the inflation situation is taking on a scale greater than many analysts might expect. To solve the problem, it is necessary to consolidate social and political forces to attract the work of committees capable of developing a non-standard plan of action in this situation. The usual actions of the Ministry of Economy will not improve the situation because the causes of inflation are atypical, and the public has been less prepared for them.
References
Inflation: Political Cartoons. (2021). Orange County Register. Web.
MacKay, G. (n.d.). 2022-38 – mackaycartoons. Web.
More inflation: Political Cartoons. (2022). Daily News. Web.