Canadian deputy governor warns of repeating pricing pressures
Vincent argues supply shocks, technology and consolidation may make raising prices easier
Firms could continue to increase prices at larger and more rapid rates, Bank of Canada deputy governor Nicolas Vincent said on October 3. Supply shocks, limited competition and technology could have shifted the pricing landscape permanently and present an obstacle to reaching the inflation target.
Canada’s headline inflation was 4% year on year in August, above the Bank of Canada’s 1–3% target range. Inflation has risen from a recent low of 2.8% in June.
Speaking to a Montreal chamber of
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