How Canada is trying to deal with the cost of inflation

Guest: Heather Scoffield, economics columnist and the Star's Ottawa Bureau Chief.

Inflation hit a 31-year high, rising to 6.7 per cent in March, with escalating prices across many sectors. Grocery store and gas bills in particular are where many people are feeling it, and the gas prices have risen almost 40 per cent from a year ago. There are several causes to inflation, but the one thing that experts know is that these higher prices are here to stay for a while. Governments and central banks are doing what they can to temper the spike, like raising interest rates, but it’s a very careful balancing game, as that can often lead to a recession.