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Inflation in Canada – The Role of Labour Costs, Profits and Import Prices

July 11, 2023

In 2022, the annual growth in the Consumer Price Index (CPI) rose to a 40-year high of 6.8%.

Dr. Danny Leung provides an overview of three articles in Economic and Social Reports, released by Statistics Canada on June 28, 2023, that examine broader measures of inflation from different perspectives.

The first article examines the role of import prices in driving final domestic demand (FDD) inflation. The second and third articles focus on the role of key internal factors, in particular labour costs, non-labour costs and the margin between output prices and costs.

These articles provide insights into whether, at a high level, labour compensation is in line with rising prices, and whether costs are being more than fully passed on to consumers.


DLeung Director, Economic Analysis Division Statistics Canada Danny Leung

Danny Leung is the director of Economic Analysis Division at Statistics Canada. After graduating with a Ph.D in Economics from Western University, he worked at Lakehead University and the Bank of Canada before moving to Statistics Canada in 2009.  Over his career Danny has worked in a number of areas. Recently, he has been focusing on business dynamics, firm financing and patenting.

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