Consumers Feel the Pinch of Higher Prices
With inflation the highest since January 1991, affordability remains a key concern for consumers. In addition, the re-opening of the hard-hit hospitality sector will likely exacerbate the current inflation fire with increased travel numbers. This is excellent news for businesses that were hit hard during the pandemic but makes sharper price growth within this sector highly likely, especially when coupled with a strong labour market, higher commodity prices, and supply chain disruptions.
Quick Take | 3-min read
May 20, 2022
Focus Area—Canadian Economics