VANCOUVER—The Bank of Canada this week raised its interest rate to combat inflation, which has reached levels not seen in decades, and yet the causes, consequences—and crucially, the beneficiaries—of inflation remain largely unknown to many Canadians, argues a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
“It’s hard to overstate the economic effects of today’s higher inflation on Canadians across the country, but because inflation has been relatively low and stable for more than 30 years, most Canadians don’t understand the basics of the issue,” said Steven Globerman, professor emeritus at Western Washington University, resident scholar at the Fraser Institute and author of A Primer on Inflation.
