Why the ‘last mile’ of inflation is the hardest
The Decibel
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The Impact of Housing Costs on Inflation
This chapter discusses the main driver of inflation, which is the shelter component of inflation, specifically housing costs. It explores the rapid increase in rents and mortgage interest costs, and how they are tied to the Bank of Canada's interest rate decisions. The chapter also highlights the high demand for rental units and the need for government intervention to improve housing supply.
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