What Canada’s rising inflation means for newcomers

How long can this era of high inflation last? Scotiabank is predicting that it will stabilize by 2023.

Many shoppers are finding that things are costlier after they visit the grocery store. What’s behind those value increases?

“Prices are rising way more quickly than in recent years,” says marc Desormeaux, senior economist at Scotiabank. “In January 2023, the total consumer price index (CPI) was over five-hitter more than one year ago. that’s the quickest year over year rate of growth in 3 decades.”

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