3% inflation for 2 years expected in Bank of Canada survey of firms
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Many Canadian businesses expect inflation to hold above three percent for the next two years, and about half of them intend to push cost increases stemming from tariffs and the Middle East conflict onto customers, according to the Bank of Canada’s Business Outlook Survey released Monday. University of Calgary economist Trevor Tombe, in The Hub, argued Canada’s headline inflation rate already understates the squeeze on households.
Annual inflation reached 3.1 percent in September, up from three percent a month earlier, with energy costs tied to the Iran and Russia-Ukraine wars accounting for most of the increase. The central bank reported that overall business sentiment improved in the third quarter, but most of its interviews predate the collapse of Canada-U. S. trade talks and Ottawa’s new counter-tariffs.
This article is an excerpt. To read the full content, visit the original source. The Hub
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