According to Statistics Canada, the Consumer Price Index (CPI) rose 3.6% in May from a year ago and from 3.4% in April of this year.
The Bank says it expects inflation to rise as high as 3% this summer before dropping to 2% later this year.
Overall consumer debt has soared to $2.08T (as in trillion).
And Toronto's financial sector is growing faster than NYC.
“The pandemic has pushed the industry ahead ten years.”