The war in the Middle East will cause inflation to rise, Canada’s central bank governor has said, calling the conflict an “economic shock” that will effect prices on a goods beyond energy products, according to AFP.
“We know inflation is going to go up in the near term. We’ve all filled up our gas, we’ve all filled up our car, we’ve seen prices at the pump. That’s going to show up (in inflation data),” the governor of the Bank of Canada, Tiff Macklem, told reporters.