Is Canada headed for a recession?

Unpublished Cafe

Sticker shock at the pumps and the grocery store is the number one concern of Canadians according to Ipsos Research, with 8 in 10 worried that a recession is in the financial horizon. Anyone who has had to fill up or pick up staples at the store has seen their buying power reduced.

The latest inflation numbers peg the cost of living at 7% for August, which is down marginally from the previous month. The Bank of Canada has been aggressive in hitting the brakes on an overheated economy, hiking the prime rate in dramatic fashion which has seen a somewhat cooling of our scorching housing market.

Economists do expect inflation to remain above 6 percent through the end of the year. Fuel prices and shelter have seen a bit of a dip but grocery prices remain at their highest level since the Empire Strikes Back hit the big screen in 1981.

Our Unpublished Vote Question asks:

• Do you feel the Canadian economy is on track for a recession?

Yes | No | Unsure

You can log on and vote right now at Unpublished.vote to cast your vote and email your MP to them why you feel the way you do.

Guests:

Ian Lee from the Sprott School of Business at Carleton University

Moshe Lander from Concordia University.

Mostafa Askari, Chief Economist at Institute of Fiscal Studies and Democracy, uOttawa.