How does Canada protect against inflation?

Back to learn

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

Recent Articles

What effects do low interest rates have on the economy?

Should your spending change when interest rates rise?

Which assets do well with rising interest rates?

How do interest rates impact the stock market?

Why Instant Pay is becoming more popular during inflation

What are the pros and cons of inflation for consumers?

Related articles

What effects do low interest rates have on the economy?

5 mins

Dan Bucherer

You’re likely tempted to take advantage of low rates, but how do they affect the economy?


What effects do low interest rates have on the economy?

5 mins

Dan Bucherer

You’re likely tempted to take advantage of low rates, but how do they affect the economy?


#interest rates

#Bank of Canada

#economy

logo.koho

Company

AboutCareersCultureGamerLearnPartnersTravelStatus

Connect

The KOHO Mastercard® Prepaid card is issued by KOHO Financial Inc. pursuant to license by Mastercard International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

By using this website, you accept our Terms and Conditions. Follow these links for more information on our Privacy Policy, Accessibility Policy and Multi-Year Accessibility Plan. © 2022 KOHO Financial Inc.