Bank of Canada Survey Shows 70% of Canadians Expect Mideast War to Lift Inflation
Updated
Updated · Toronto Star · Jul 6
Bank of Canada Survey Shows 70% of Canadians Expect Mideast War to Lift Inflation
3 articles · Updated · Toronto Star · Jul 6
Summary
About 70% of Canadian consumers told the Bank of Canada they expect the Middle East war to push inflation higher over the next year.
The quarterly consumer survey, released Monday and conducted from late April to the end of May, also showed overall business sentiment deteriorated.
Those inflation fears were tied to rising energy and gasoline prices as conflict involving Iran in the Middle East fed through to Canadian price expectations.
The results add to evidence that geopolitical shocks are lifting both consumer inflation expectations and business caution in Canada.