Clearly the initial onset might have been due to some supply disruption, but we're now two years in. In the latest inflation report that was released by my former colleagues at Statistics Canada on Tuesday, services have now replaced goods. You can no longer say this is supply chains, computer chips and all those things or even food and energy. Inflation is increasingly embedded in the service sector of the economy, and that's driven by domestic factors and wage inflation.
On May 18th, 2023. See this statement in context.