How does Canada protect against inflation?

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How does Canada protect against inflation?

Rounding it up

  • Inflation in Canada is a measure used to determine the success of Canadian monetary policy.

  • The inflation rates rose to 4.1% in August last year, recording the highest inflation rate since 2003.

  • Currently, inflation in Canada is higher than normal.

  • In 2021, the main areas affected by inflation included energy costs like gasoline and fuel, food, and homeownership.

  • There are measures that Canada has taken to hedge the inflation effects and protect its citizens.

  • The Bank of Canada and the Government of Canada set an inflation target of 2%

9 min read

April Ann Quiñones
#inflation#Canada#rates#Bank of Canada

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