Assessing the rise in broad-based inflationary pressure during 2021 and 2022

Articles and reports: 36-28-0001202300200002

Description: A key feature of the buildup in inflationary pressure over the last two years is the extent to which it became increasingly broad-based, with elevated price increases affecting a gradually wider set of products and services. This spotlight article provides some context on the amount of consumer spending that has been impacted by high inflation since price pressures began to build in early 2021. Using expenditure weights from the consumer price index, it reports on the share of the expenditure basket that falls into different inflationary ranges, first based on all products and services, and then separately for food products.
Issue Number: 2023002
Author(s): Mitchell, Taylor; Gellatly, Guy
FormatRelease dateMore information
HTMLFebruary 22, 2023
PDFFebruary 22, 2023