Companies did not take advantage of inflation to raise prices more than necessary, research from the Bank of Canada suggests. Read on.
Activate your Online Access Now“We show that, counter to what we would expect if firms were using their market power to raise prices, increases in the markups of Canadian firms do not coincide with the high inflation in 2021 and 2022. Rather, the data suggest that the contribution of changes in markups to inflation was limited,” the authors of the paper said.
Overall, however, inflation decelerated to 2.9 per cent in June after peaking at 8.1 per cent in June 2022, Statistics Canada said, showing the bank has been making headway in fighting off rising prices.
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