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Economic Viewpoint

The Impact of Inflation on Different Income Levels in Canada

June 23, 2022
Benoit P. Durocher
Director and Principal Economist

High price inflation is widespread, both geographically and in terms of consumer price index (CPI) components. Now the question is whether high price increases are affecting all Canadian households in the same way. Does using different spending profiles for different incomes radically change the inflation picture for every household? And, by the same token, can inflation’s effects on households vary based on their income?