Bank of Canada Surveys Suggest Business and Consumer Inflation Expectations Up

People pass the Bank of Canada building on Wellington Street in Ottawa, on May 31, 2022. The Canadian Press/Justin Tang

A pair of new reports from the Bank of Canada point to rising inflation expectations by Canadian businesses and consumers.

In its business outlook survey released Monday, the central bank said businesses’ expectations for near-term inflation have increased, and firms expect inflation to be high for longer than they did in the previous survey.