For the sixth consecutive month, the Bank of Canada has exceeded its legally mandated control range, with the Consumer Price Index rising 4.4% in September. This is the highest inflation rate since February 2003, far higher than anything during the recovery from the Great Recession and above economists' expectations.
- Scotiabank economist Derek Holt says that despite what the bank is saying, high inflation is not transitory, describing it instead as broad-based inflation that will affect all costs for the average family, from food to transportation.
- A recent poll shows that 46% of Canadian households are currently struggling to pay the grocery bill due to high inflation.
*Canadian stock prices are as of the last close. Data received directly from the references indexes through ICE Data Services