Bank of Canada deputy governor Nicolas Vincent said that companies continue to raise prices more frequently than before the pandemic and warned that this behaviour could become “self-perpetuating,” making it harder to get inflation back under control. In his first speech since becoming deputy governor, Mr. Vincent described how corporate price-setting changed during and after the COVID-19 pandemic, with companies raising prices more frequently and by larger amounts than usual. There are signs that pricing behaviour is slowly returning to normal, he told the Montreal Chamber of Commerce. But there’s also a risk that companies will continue pushing cost increases rapidly along to customers.
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