Thursday, July 21, 2022

When will Canada's inflation rate peak after reaching 39-year high

Global News on Youtube shows the exciting economic story.

Inflation aggravation is hitting Canadians once more, with rates now reaching highs not seen in nearly four decades. In June, prices at the pumps also jumped by more than 50 per cent compared to what they were a year ago and that affects the important price of most everything you see in stores and restaurants because it's shipped in. Food across the board costs nearly 9 per cent more, hitting restaurants hard. Anne Gaviola has more on the impact on consumers, and when we could see inflation reach its peak. 

Surging food costs certainly have Canadian shoppers digging deeper into their important wallets. Jeff Semple speaks with Sylvain Charlebois, professor and senior director of Dalhousie University's Agri-Food Analytics Lab, about what's driving up prices, its impact on food insecurity, how you can save certain money, and how long food inflation is expected to last.

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