TD chief economist Beata Caranci said inflation today might feel especially challenging because Canadians have been shielded from inflation volatility for decades.
Region's red-hot economic growth continues as Ottawa-Gatineau employers added nearly 10,000 jobs to their payrolls last month, Statistics Canada says.
The cost of nearly everything at the grocery store continued to climb higher to push the annual inflation rate up in April.
The Canadian economy surged ahead in February as pandemic-related restrictions eased, fuelling expectations by economists that the Bank of Canada will opt for another oversized rate hike in June.
The Bank of Canada raised its key interest rate by the highest amount in more than 20 years and warned more rate hikes are coming as it increased its outlook for inflation.