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Haircuts, housing and airplanes: Pent-up demand and supply chain disruptions will see some prices climb higher as inflation continues to soar, economists say
Those changes will likely start to emerge in the monthly inflation figures that the federal government plans to release this Wednesday. “We’re anticipating a shift in consumer purchases from goods back to services,” said Claire Fan, an economist with the Royal Bank of Canada. Now, Canada’s hairdressers, food services, house cleaners and transportation companies are facing an influx of demand that is poised to send service prices even higher. The climbing prices are expected to keep Canada’s Consumer Price Index (CPI) above the Bank of Canada’s target inflation rate, experts say. Some sectors have faced supply chain disruptions in recent months that have forced consumers to pay more for limited products.
Source: thestar July 26, 2021 20:48 UTC
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