As the Bank of Canada aggressively raised lending rates through the first two quarters, fears of recession grip businesses and consumers alike, in the aftermath of pandemic lock downs. Over the 12 months from the end of Q2 in 2021 to the end of Q2 2022, inflation in Canada jumped 9%. The build up of unspent money accumulated through 2020 and 2021 is now simply chasing too few goods and services. The result is an economic surge in demand and a bottleneck in supply. Continued Covid outbreaks and resultant labor shortages exacerbate the condition.