Global oil prices have climbed – of the nearly five percent increase in the CPI, 1.2 percent came from higher gasoline prices, says Chief Economist Charles St-Arnaud in a new Calgary Herald article. The column, Varcoe: Bank of Canada holds interest rates, businesses expect hikes in 2022 as inflation roars, talks about the Bank of Canada’s decision against increasing its benchmark rate today and how inflation is impacting businesses.
For information on inflation, interest rates, economic recovery and more, read the 2022 Alberta Central Economic Outlook here.