Headline inflation, of course, has been boosted by the jump in energy prices. However, the run-up in the prices of energy and other commodities appears to have had only a modest effect on prices for non-energy goods and services.
The unemployment rate has fallen from a peak of more than 10 per cent to just below 7 per cent. 2  BIS central bankers’ speeches  What is needed now is greater focus on the second element of the broad economic strategy that I mentioned earlier – Canadian businesses retooling and reorienting to the new global economy.