Ongoing Supply Issues Expected to Drive Prices Higher: Bank of Canada Survey

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The global supply chain snags that marked the latter half of 2021 have stretched into the new year and have been worsened by Russia’s invasion of Ukraine, according to a Bank of Canada survey released Monday.

Businesses now expect these persistent snags hampering the flow of goods around the world to drive costs higher in the near term, with most believing inflation relief is still years off.

The central bank’s Business Outlook Survey for the first quarter of 2022 showed a “record high” number of companies are now reporting “capacity pressures” tied to supply chain and labour-related concerns.

Read more in an article from Global News.