According to the latest U.S. inflation report, consumer prices rose 8.6% in May. The reading came in higher than what most expected, and is another indicator that high inflation will sustain its momentum. What does this mean for Canadian households and the economy at large? This episode, Chief Economist Eric Lascelles provides his insight on inflation, and discusses the outlook for labour market conditions and consumer spending behaviour in response to rising costs. Eric also revisits recession risk, and explores how higher interest rates could temper optimism in the housing market. (Recorded June 10, 2022)

To view the transcript and disclosure for this podcast, please visit https://www.rbcgam.com/en/ca/insights/podcasts/economic-update-inflation-continues-to-soar/detail.

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