Inflation rises, though less than many expected
Fueled by surging gas prices, Canada’s inflation rate rose again last month to 8.1%. If the cost of gas is taken out, the rate would be 6.5%.
Other factors contributing to our higher cost of living include jumps in grocery bills, accommodation and ticket prices for sports and concert events. If there is a silver lining it is that the increase was less than expected. Whether this signals peak inflation is unclear. Many experts are forecasting inflation to begin falling in the next few months.
The Chamber is working with a number of members to get a clearer picture of what rising rates mean for business. Watch for updates in future editions of BizNews.
Other factors contributing to our higher cost of living include jumps in grocery bills, accommodation and ticket prices for sports and concert events. If there is a silver lining it is that the increase was less than expected. Whether this signals peak inflation is unclear. Many experts are forecasting inflation to begin falling in the next few months.
The Chamber is working with a number of members to get a clearer picture of what rising rates mean for business. Watch for updates in future editions of BizNews.
