Bank of Canada is blaming Canadian’s future inflationary outlook for the coming increases in inflation!

The crucial metric for the Bank of Canada in both surveys is inflation expectations. What consumers and businesses believe about future price increases can affect the trajectory of inflation, as employees negotiate higher wages and companies raise prices to protect their profit margins. The central bank is worried that people will expect permanently high inflation, and price increases will become self-reinforcing.

https://www.theglobeandmail.com/business/economy/article-bank-of-canada-business-consumer-survey/

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