No mention here that Maxime Bernier is the only candidate in the leadership race to favour lowering the target rate of inflation of the Bank of Canada, which has been 2% since 1995. This would be more consistent with the inflation targeting regime as originally designed by Progressive Conservative Finance Minister Michael Wilson, which saw a 2% target rate as just another stepping stone (3%, 2.5%, 2% and something lower) on the road to price stability. Given the changes in CPI methodology since 1991, especially since the 2011 renewal of the inflation-control agreement, the effective target rate of inflation is now substantially above 2.0% as it would be measured in 1995, and more improvements going forward will raise the effective target rate still further if nothing is done. Maxime is the only candidate who has pledged to do a better job in protecting Canadians from the ravages of inflation.