FORECASTING INFLATION TRENDS: IMPLICATIONS FOR CONSUMER BEHAVIOUR AND BUSINESS DYNAMICS IN CANADA (2019-2023)

Abstract

This research investigates the impact of rising inflation in Canada between 2019 and 2023. The study forecasts future inflation trends by analysing Consumer Price Index (CPI) data and explores their potential consequences for consumer behaviour and business dynamics. The analysis examines how inflation might influence consumer spending habits, product choices, and financial planning. It also explores how businesses may adapt to inflation through pricing strategies, workforce management, and supply chain adjustments. This research provides valuable insights for policymakers and companies navigating economic uncertainty caused by inflation.