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Canadian Businesses Feel Middle East War's Pinch

Canadian Businesses Feel Middle East War's Pinch

Published 1 month ago
Description

Canadian businesses face rising costs due to the Middle East conflict, with input prices like fuel, freight, and fertilizers surging. While some sectors like transportation have clauses to cover fuel adjustments, others may not raise selling prices immediately. Households predict a weaker economy and pricier goods, with twenty-one percent canceling or delaying trips and twenty-eight percent cutting back on big spending. The Bank of Canada is monitoring short-term gas price spikes, with their next rate call on April twenty-ninth.

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