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Recovery in demand from the COVID-19 recession had, by 2021, revealed significant supply shortages across many business and consumer economic sectors. In early 2022, the Russian invasion of Ukraine 's effect on global oil prices , natural gas , fertilizer , and food prices further exacerbated the situation. [ 1 ]
The University of Michigan's survey showed consumers' one-year inflation expectations jumped to 3.3% in January, the highest level since May, from 2.8% in December.
The survey's results are used to make inferences about public expectations of U.S. dollar inflation. [5] [6] The survey has illuminated the degree to which employed workers are offered much higher-wage jobs than the unemployed, even holding constant the observable attributes of the workers. [7]
The COVID-19 pandemic had forced the Justin Trudeau government to introduce a large number of federal aid programs to deal with the economic impact of the crisis.As a result, Canada's debt-to-GDP ratio increased in 2020 and 2021.
November 19 – Elizabeth May wins the 2022 Green Party of Canada leadership election, becoming the leader of the Green Party again since resigning in 2019. [ 45 ] [ 46 ] November 20 – The 109th Grey Cup Game in Regina, Saskatchewan , was won by the Toronto Argonauts , 24–23, against two-time defending champion Winnipeg Blue Bombers .
While inflation a year from now was seen holding steady at 3%, respondents to the bank’s latest Survey of Consumer Expectations said that they see inflation three years from now moving to 2.7% ...
Expectations for earlier hikes, after data last week showed the economy growing at an annualized rate of 9.6% in the fourth quarter, double the pace the BoC projected, could tighten financial ...
The $30 billion proposal plans to reduce kindergarten prices by 50 percent in 2022, and to reduce their prices to $10 per day by 2026. [ 11 ] The budget included a host of new targeted taxes, including taxes on luxury cars, jets or boats, a 1% tax on vacant homes owned by non-citizens, and a tax on digital services (dubbed the "Netflix tax").