A pair of new reports from the Bank of Canada point to rising inflation expectations by Canadian businesses and consumers.
Economists at CIBC said the surveys of businesses and consumers suggest continued supply shortages, high inflationary pressures and a rise in households' longer-term inflation expectations that will keep the Bank of Canada on track to raise interest rates by three-quarters of a percentage point at its next meeting.
In response, the business outlook survey said businesses are reconfiguring supply chains and holding more inventory than usual as well a majority of firms are planning to invest and hire more. Meanwhile, the bank's Canadian survey of consumer expectations suggests consumers' expectations for inflation have also risen with worries about prices for food, gas and rent.
"Some consumers mentioned sticking to a strict budget for groceries by buying more generic products or not buying items deemed less necessary. Some are relying more on gardening for food or using cheaper forms of commuting, like biking," the report said.
Ya sure .
They do surveys ? No wonder they make incompetent decisions.
Ummm no we don’t.
OH REALLY? WHO WOULD HAVE EVER BELIEVED
Any news coming out of the Netherlands
INFLATION = PLANNED GOVERNMENT CORRUPTION
A survey? What survey! When was the survey? Who did they survey? Trudeau’s media enforcers at CTV don’t ask questions they just do what they’re told.
JustinFlation up. Federal employees up. Federal service in the toilet. Impossible for the private sector to support this monster.