Calm Money Coach
Is Canada Heading Into Stagflation?
12:16
Is Canada heading into stagflation? Prices were up 3.1% in September, unemployment is 6.5%, and groceries cost 33% more than in September 2020.
Stagflation is prices jumping while the economy stalls. It followed the oil shocks of 1973 and 1979, and in 1981 the Bank of Canada's rate went past 21%. Economists say we're nowhere near that today. Leave gas out and prices are up 2.2%, and the Bank's…