Inflation at 7.7%: “We are not out of the woods” according to one expert

The cost of living in Canada continues to rise. Inflation rose to 7.7% in May, the largest annual increase since January 1983.

Also read: Inflation in Canada rose to 7.7%, a record since 1983

Also read: Inflation: House prices have started falling between 15% and 20%

Also read: Depression is definitely a possibility, the Fed boss admitted

Quebec Finance Minister Eric Girard said on Wednesday that inflation had not yet reached a record high.

Sylvain Charlebois from the Agrifood Analytical Sciences Laboratory at Dalhousie University agrees with Minister Girard.

“We are not out of the woods,” he warned.

“We’m probably at the beginning of the second period, so we still have a long way to go,” he said. Charleboys continues.

Regarding the maximum level of inflation the country can reach: “Americans are at 12% and we always reach Americans. So you have an idea of ​​where we are going, ”he said.

Watch the full interview in the video above.