Right now the worry for many workers is that wages are not keeping up with inflation. Ironically, the other worry is that wages will keep up with inflation.
Bank of Canada governor Tiff Macklem says he takes ‘no pleasure’ in job losses that will result from hiking rates, but cooling the country’s overheated economy comes first.
Food prices are still on the rise despite Canadian grocers making $1.5 billion in the first two quarters of 2022, which is almost twice as much as they made in 2019.