Poll: Is Canada’s inflation rate actually higher than reported?
It’s widely speculated that the Bank of Canada is set to increase its interest rate beginning later this month, and likely will do so more than a few times over the course of 2022.
While you can argue the validity of using interest rates to temper inflation, there’s no doubt that Canada — and the world — is experiencing an incredible rate of inflation.
The latest figure pegs Canada’s inflation rate at 4.7 per cent, well behind that of the U.S. at 7 per cent. Several analysts are calling Canada’s number into question, and there’s growing talk that the sub-5 per cent number is far too low.
What do you think?