As inflation continues to soar, economists say Canadians will have to curb their spending and adjust for higher interest rates. In a report released this week, Statistics Canada said Canada’s year-over-year rate of inflation hit 7.7 per cent in May, the highest it has been since 1983.
Posted: Apr 23, 2021 4:00 AM ET | Last Updated: April 23
Shifting consumer demand, from shopping online to spending more on products for the home, is one reason some products are in short supply. Here, soneone walks inside Yorkdale Shopping Centre in Toronto in November 2020. (Carlos Osorio/Reuters)