The labour market has also softened, with job growth slowing and the unemployment rate rising.
inflation
Inflationary gains represent a significant share of the capital gains Canadians are currently realizing.
In recent decades, central banks have fought inflation using interest rates instead of monetary growth.
Canada’s population is expanding by more than one million per year while housing starts are stuck below 250,000.
Between 2024/25 and 2027/28, the federal government has increased projected spending by $30.7 billion more than previously forecasted.
A serious approach to food inflation would focus on reducing costs to producers and encouraging greater supply.
We’ve seen a steady erosion of per-capita GDP growth and persistent government deficits.
In 2022, real GDP per person remained below the 2019 level and was scarcely higher than five years earlier.
In March, food prices were 9 per cent higher than a year earlier.