Bank of Canada Governor Tiff Macklem at a press conference in Ottawa (File photo)
Questioned about the cause of current inflation in Canada, which would be attributable to price increases greater than increases in business costs, Mr. Macklem does not x27;did not provide a numerical response, unlike other central banks which revealed their data.
European Central Bank President Christine Lagarde recently explained that in the two decades leading up to 2022, corporate profits were responsible for around a third of inflation. Last year, this ratio even climbed to two-thirds.
Companies cannot continue to charge the prices we have seen recently.
A quote from Christine Lagarde, President of the European Central Bank