High inflation in 2022 in Canada : demand-pull or supply-push? / by Weimin Wang. : CS36-28-0001/2024-5-5E-PDF

"This article examines whether the high inflation in 2022 in Canada was demand–pull or supply–push. It finds that at the aggregate level, Canada’s household final consumption expenditure grew at a much higher rate than gross domestic product from early 2021 to mid-2022 and that headline inflation accelerated during this period. These findings suggest that the aggregate excess demand for consumption and high inflation in 2022 were highly related. This article also decomposes inflation in the price of household final consumption into the contributions by detailed products consumed"--Abstract, page 1.

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