Is Canada headed toward recession? Experts have "no consensus" on future of inflation

For months, inflation has been on a downward slope and there are signs it peaked in June of last year, cooling to 6.3 per cent in December, according to Statistics Canada.

The Bank of Canada, which undertook the fastest interest rate hike cycle in its history to tame price pressures this past year, said in January that it expects headline inflation to hit the outer bound of its one-to-three-per cent target by mid-2023 – faster than its outlooks from last year projected.

“I’ve never seen the range of opinion on where inflation is headed in my life,” said Armine Yalnizyan, economist and fellow with the Atkinson Foundation. "There’s absolutely no consensus on what the future holds. Never have things been more uncertain.”

As Anne Gaviola reports, experts don’t agree on when inflation will be back under control, or whether Canada is headed toward a recession.

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