February 2024

PowerPoint Presentation February 2024 Contents Overview and Key Findings 3 Impact on Businesses 25 Trends in Inflation, Interest Rates, 5 Looking Ahead 33 Housing and Energy Prices Key Economic Mechanisms 17 Impact on Consumers 19 Canadian Chamber of Commerce | Business Data Lab 2 Research Questions This report investigates the impact of rising housing and energy prices on consumers, businesses an. [...] We address the following questions: • How have recent increases in housing and energy costs affected consumer spending? • Are there notable differences in the impact on consumer spending across regions? • Are these trends systematically related to business sales and sentiment across regions? Canadian Chamber of Commerce | Business Data Lab 3 Key Findings Business costs and sales challenges Long-ru. [...] Canadian Chamber of Commerce | Business Data Lab 4 Trends in Inflation, Interest Rates, Housing and Energy Prices 5 In the wake of the pandemic, inflation spiked at over 8%; it has since slowed due to higher interest rates and a weakening economy, entering target range. [...] Canadian Chamber of Commerce | Business Data Lab 11 Sources: Business Data Lab analysis using Canadian Real Estate Association and Bank of Canada data. [...] - Housing - Home furnishings - Autos Source: Canadian Chamber of Commerce Business Data Lab Canadian Chamber of Commerce | Business Data Lab 18 Impact on Consumers 19 Cost of living concerns are widespread, causing most consumers to reduce their spending, especially lower-income households.