Most Firms Expect Inflation to Stay Above 3% for Next Two Years: Bank of Canada Survey

Labour shortage and supply chain challenges expected to drive prices higher, survey shows

The Bank of Canada is shown in Ottawa on April 24, 2019. The Canadian Press/Sean Kilpatrick

More than two-thirds of Canadian firms are expecting inflation to stay above 3 percent over the next two years, according to a new survey from the Bank of Canada.

Released on April 4, the online survey conducted between March 4 and March 10 asked 152 firms about their expectations for the country’s inflation rate in the coming years.