<description>&lt;p&gt;Global oil prices remain high as the Middle East conflict persists, raising questions about a potential comeback of the broad-based inflation Canada experienced during and after the pandemic.&lt;/p&gt;&lt;p&gt;But, this shock is fundamentally different from the past. Unlike 2022, when the Russia-Ukraine war compounded systemic supply chain disruptions from pandemic lockdowns, today's commodity shock is narrowly concentrated in oil, and unfolding at a time when global supply chains are more resilient.&lt;/p&gt;&lt;p&gt;In this episode of the 10-Minute Take, join RBC Economics' Claire Fan and Carrie Freestone as they discuss:&lt;/p&gt;&lt;ul&gt;&lt;li&gt;How the scope and scale of the commodity price shock differs from the Russia-Ukraine war in 2022.&lt;/li&gt;&lt;li&gt;What localized and contained supply chain disruptions this year could mean for global inflation. &lt;/li&gt;&lt;li&gt;Why Canadian consumers could be less tolerant of rising prices than they were in 2022.&lt;/li&gt;&lt;/ul&gt;&lt;br/&gt;</description>

The 10-Minute Take

The 10-Minute Take

Will the oil price shock reignite broad inflation in Canada?

APR 16, 202610 MIN
The 10-Minute Take

Will the oil price shock reignite broad inflation in Canada?

APR 16, 202610 MIN

Description

Global oil prices remain high as the Middle East conflict persists, raising questions about a potential comeback of the broad-based inflation Canada experienced during and after the pandemic.But, this shock is fundamentally different from the past. Unlike 2022, when the Russia-Ukraine war compounded systemic supply chain disruptions from pandemic lockdowns, today's commodity shock is narrowly concentrated in oil, and unfolding at a time when global supply chains are more resilient.In this episode of the 10-Minute Take, join RBC Economics' Claire Fan and Carrie Freestone as they discuss:How the scope and scale of the commodity price shock differs from the Russia-Ukraine war in 2022.What localized and contained supply chain disruptions this year could mean for global inflation. Why Canadian consumers could be less tolerant of rising prices than they were in 2022.