inflation reared its head in North America this spring, the common view was that it would be just a temporary bout of price increases.
Now, though, many analysts aren’t so sure.“Inflation rates of three, four — or yes, even five per cent — could be with us for a year or two,” says Douglas Porter, chief economist with Bank of Montreal.Economists surveyed by the Wall Street Journal this month had a similar outlook for U.S.
inflation, with forecasts of sustained price increases lasting until 2023.South of the border, the pace of inflation accelerated to 5.4 per cent in June, the highest year-over-year increase in consumer prices the U.S.