Economists predict rising inflation is here to stay.mp4

Canada is seeing a sustained increase in the cost of goods and services and economists say inflation could be with us for years.

As widely expected, the pace of inflation in Canada eased in June compared to the 3.6 per cent year-over-year rate recorded in May, which was the largest annual increase since May 2011. But the slowdown was in part due to the comparison with June 2020, which saw a rebound in prices as the Canadian economy briefly emerged from strict COVID-19 restrictions imposed at the start of the pandemic.

Anne Gaviola explains how a number of issues, including changing consumer tastes and global supply chain issues, are contributing to problem.