I don't have at the tip of my fingers any analysis on profits as a percentage of GDP, but we have done some work on this. In fact, one of our colleagues, Deputy Governor Nicolas Vincent, recently gave a speech on the topic of corporate profits.
In an environment where demand is running ahead of supply, it becomes easier for businesses to raise prices. People get discouraged with inflation. They stop shopping around. In that environment, if there is excess demand and people are less inclined to shop around, it's easier for businesses to raise prices. That is exactly what business has been telling us they're doing. In our business outlook survey, they've been telling us that they are raising their prices more often, and by more than they have in the past. That has tapered off a bit recently. Businesses are telling us now that as the economy gets back into balance and demand and supply are running closer, they have reduced both the rate and the amount at which they are increasing prices.
We have a ways to go yet. They are still above where they were prepandemic. That is something we'll be watching. In our press releases and many of the governor's comments, we always tell you the things we're looking at to know when core inflation is back where we need it to be to get headline inflation down. Corporate pricing behaviour is one of the things we're watching closely.