Inflation: When will Canadians see relief from rising prices?

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Inflation is the story everyone cannot help but talk about all the time. The latest snapshot of the cost of living shows inflation in Canada in June hit an annual rate of 8.1 per cent, the highest level in 40 years. Two encouraging signs of late include gas prices coming down a bit while the housing market is cooling. The number one question people ask is when are we going to get some relief? And when people talk about relief, that doesn’t mean prices aren’t going to stop climbing, it may mean they just stop skyrocketing.

The Bank of Montreal’s top economist, Doug Porter, put out a note this week saying rock bottom interest rates were the main culprit fuelling the pandemic housing frenzy vs. the go-to in Canada - which is the supply shortage. While the case for low interest rates can certainly be made, Canada does indeed have a housing shortage.

And there was a rally among Tesla shares this week after better than expected earnings. Can the company be thought of as separate from its CEO Elon Musk?

Jay Rosenthal from The Peak Podcast joins Anne Gaviola for more on these topics and much more.