<?xml version="1.0" encoding="UTF-8"?>
<data>
<terms url="https://www.bankofcanada.ca/terms/"></terms>
<seriesDetail>
<series id="AVERWAGE">
<label>Average expected wage increase</label>
<description>Wage Growth - Over the next 12 months, are increases in labour costs expected to be higher, lower or about the same rate as over the past 12 months?</description>
<dimension key="d" name="Date"/>
</series>
<series id="COSTS">
<label>Balance of opinion *</label>
<description>Wage Growth - Over the next 12 months, are increases in labour costs expected to be higher, lower or about the same rate as over the past 12 months?</description>
<dimension key="d" name="Date"/>
</series>
<series id="COSTSHIGHER">
<label>Higher</label>
<description>Wage Growth - Over the next 12 months, are increases in labour costs expected to be higher, lower or about the same rate as over the past 12 months?</description>
<dimension key="d" name="Date"/>
</series>
<series id="COSTSLOWER">
<label>Lower</label>
<description>Wage Growth - Over the next 12 months, are increases in labour costs expected to be higher, lower or about the same rate as over the past 12 months?</description>
<dimension key="d" name="Date"/>
</series>
</seriesDetail>
<observations>
<o d="1999-01-01"><v s="COSTS">13</v><v s="COSTSHIGHER">25</v><v s="COSTSLOWER">13</v></o>
<o d="1999-04-01"><v s="COSTS">26</v><v s="COSTSHIGHER">32</v><v s="COSTSLOWER">7</v></o>
<o d="1999-07-01"><v s="COSTS">25</v><v s="COSTSHIGHER">32</v><v s="COSTSLOWER">7</v></o>
<o d="1999-10-01"><v s="COSTS">26</v><v s="COSTSHIGHER">34</v><v s="COSTSLOWER">8</v></o>
<o d="2000-01-01"><v s="COSTS">35</v><v s="COSTSHIGHER">39</v><v s="COSTSLOWER">4</v></o>
<o d="2000-04-01"><v s="COSTS">50</v><v s="COSTSHIGHER">53</v><v s="COSTSLOWER">3</v></o>
<o d="2000-07-01"><v s="COSTS">37</v><v s="COSTSHIGHER">44</v><v s="COSTSLOWER">8</v></o>
<o d="2000-10-01"><v s="COSTS">45</v><v s="COSTSHIGHER">48</v><v s="COSTSLOWER">3</v></o>
<o d="2001-01-01"><v s="COSTS">32</v><v s="COSTSHIGHER">43</v><v s="COSTSLOWER">10</v></o>
<o d="2001-04-01"><v s="COSTS">15</v><v s="COSTSHIGHER">31</v><v s="COSTSLOWER">15</v></o>
<o d="2001-07-01"><v s="COSTS">11</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">17</v></o>
<o d="2001-10-01"><v s="COSTS">-21</v><v s="COSTSHIGHER">16</v><v s="COSTSLOWER">37</v></o>
<o d="2002-01-01"><v s="COSTS">9</v><v s="COSTSHIGHER">26</v><v s="COSTSLOWER">17</v></o>
<o d="2002-04-01"><v s="COSTS">16</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">13</v></o>
<o d="2002-07-01"><v s="COSTS">19</v><v s="COSTSHIGHER">30</v><v s="COSTSLOWER">10</v></o>
<o d="2002-10-01"><v s="COSTS">9</v><v s="COSTSHIGHER">22</v><v s="COSTSLOWER">13</v></o>
<o d="2003-01-01"><v s="COSTS">23</v><v s="COSTSHIGHER">31</v><v s="COSTSLOWER">8</v></o>
<o d="2003-04-01"><v s="COSTS">2</v><v s="COSTSHIGHER">22</v><v s="COSTSLOWER">20</v></o>
<o d="2003-07-01"><v s="COSTS">6</v><v s="COSTSHIGHER">19</v><v s="COSTSLOWER">13</v></o>
<o d="2003-10-01"><v s="COSTS">9</v><v s="COSTSHIGHER">22</v><v s="COSTSLOWER">13</v></o>
<o d="2004-01-01"><v s="COSTS">24</v><v s="COSTSHIGHER">29</v><v s="COSTSLOWER">6</v></o>
<o d="2004-04-01"><v s="COSTS">29</v><v s="COSTSHIGHER">36</v><v s="COSTSLOWER">7</v></o>
<o d="2004-07-01"><v s="COSTS">19</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">9</v></o>
<o d="2004-10-01"><v s="COSTS">18</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">9</v></o>
<o d="2005-01-01"><v s="COSTS">14</v><v s="COSTSHIGHER">24</v><v s="COSTSLOWER">10</v></o>
<o d="2005-04-01"><v s="COSTS">11</v><v s="COSTSHIGHER">24</v><v s="COSTSLOWER">13</v></o>
<o d="2005-07-01"><v s="COSTS">31</v><v s="COSTSHIGHER">35</v><v s="COSTSLOWER">4</v></o>
<o d="2005-10-01"><v s="COSTS">34</v><v s="COSTSHIGHER">43</v><v s="COSTSLOWER">9</v></o>
<o d="2006-01-01"><v s="COSTS">28</v><v s="COSTSHIGHER">37</v><v s="COSTSLOWER">9</v></o>
<o d="2006-04-01"><v s="COSTS">27</v><v s="COSTSHIGHER">36</v><v s="COSTSLOWER">9</v></o>
<o d="2006-07-01"><v s="COSTS">35</v><v s="COSTSHIGHER">41</v><v s="COSTSLOWER">6</v></o>
<o d="2006-10-01"><v s="COSTS">25</v><v s="COSTSHIGHER">35</v><v s="COSTSLOWER">10</v></o>
<o d="2007-01-01"><v s="COSTS">14</v><v s="COSTSHIGHER">31</v><v s="COSTSLOWER">17</v></o>
<o d="2007-04-01"><v s="COSTS">4</v><v s="COSTSHIGHER">21</v><v s="COSTSLOWER">17</v></o>
<o d="2007-07-01"><v s="COSTS">6</v><v s="COSTSHIGHER">25</v><v s="COSTSLOWER">20</v></o>
<o d="2007-10-01"><v s="COSTS">6</v><v s="COSTSHIGHER">26</v><v s="COSTSLOWER">20</v></o>
<o d="2008-01-01"><v s="COSTS">4</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">24</v><v s="AVERWAGE">3.6</v></o>
<o d="2008-04-01"><v s="COSTS">13</v><v s="COSTSHIGHER">30</v><v s="COSTSLOWER">17</v><v s="AVERWAGE">4.0</v></o>
<o d="2008-07-01"><v s="COSTS">4</v><v s="COSTSHIGHER">23</v><v s="COSTSLOWER">19</v><v s="AVERWAGE">3.7</v></o>
<o d="2008-10-01"><v s="COSTS">-47</v><v s="COSTSHIGHER">11</v><v s="COSTSLOWER">58</v><v s="AVERWAGE">2.2</v></o>
<o d="2009-01-01"><v s="COSTS">-52</v><v s="COSTSHIGHER">6</v><v s="COSTSLOWER">58</v><v s="AVERWAGE">1.5</v></o>
<o d="2009-04-01"><v s="COSTS">-41</v><v s="COSTSHIGHER">13</v><v s="COSTSLOWER">53</v><v s="AVERWAGE">1.6</v></o>
<o d="2009-07-01"><v s="COSTS">-7</v><v s="COSTSHIGHER">19</v><v s="COSTSLOWER">26</v><v s="AVERWAGE">2.0</v></o>
<o d="2009-10-01"><v s="COSTS">6</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">22</v><v s="AVERWAGE">2.4</v></o>
<o d="2010-01-01"><v s="COSTS">3</v><v s="COSTSHIGHER">32</v><v s="COSTSLOWER">29</v><v s="AVERWAGE">2.3</v></o>
<o d="2010-04-01"><v s="COSTS">22</v><v s="COSTSHIGHER">35</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">2.5</v></o>
<o d="2010-07-01"><v s="COSTS">15</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">11</v><v s="AVERWAGE">2.7</v></o>
<o d="2010-10-01"><v s="COSTS">16</v><v s="COSTSHIGHER">33</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">3.0</v></o>
<o d="2011-01-01"><v s="COSTS">26</v><v s="COSTSHIGHER">44</v><v s="COSTSLOWER">18</v><v s="AVERWAGE">3.0</v></o>
<o d="2011-04-01"><v s="COSTS">29</v><v s="COSTSHIGHER">43</v><v s="COSTSLOWER">14</v><v s="AVERWAGE">3.2</v></o>
<o d="2011-07-01"><v s="COSTS">7</v><v s="COSTSHIGHER">23</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">3.5</v></o>
<o d="2011-10-01"><v s="COSTS">20</v><v s="COSTSHIGHER">35</v><v s="COSTSLOWER">15</v><v s="AVERWAGE">3.2</v></o>
<o d="2012-01-01"><v s="COSTS">14</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">3.1</v></o>
<o d="2012-04-01"><v s="COSTS">19</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">8</v><v s="AVERWAGE">2.9</v></o>
<o d="2012-07-01"><v s="COSTS">7</v><v s="COSTSHIGHER">23</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">2.9</v></o>
<o d="2012-10-01"><v s="COSTS">3</v><v s="COSTSHIGHER">21</v><v s="COSTSLOWER">18</v><v s="AVERWAGE">2.9</v></o>
<o d="2013-01-01"><v s="COSTS">-1</v><v s="COSTSHIGHER">18</v><v s="COSTSLOWER">19</v><v s="AVERWAGE">2.6</v></o>
<o d="2013-04-01"><v s="COSTS">4</v><v s="COSTSHIGHER">17</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">2.7</v></o>
<o d="2013-07-01"><v s="COSTS">12</v><v s="COSTSHIGHER">25</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">2.7</v></o>
<o d="2013-10-01"><v s="COSTS">17</v><v s="COSTSHIGHER">24</v><v s="COSTSLOWER">7</v><v s="AVERWAGE">2.8</v></o>
<o d="2014-01-01"><v s="COSTS">9</v><v s="COSTSHIGHER">23</v><v s="COSTSLOWER">14</v><v s="AVERWAGE">2.9</v></o>
<o d="2014-04-01"><v s="COSTS">11</v><v s="COSTSHIGHER">22</v><v s="COSTSLOWER">11</v><v s="AVERWAGE">2.7</v></o>
<o d="2014-07-01"><v s="COSTS">11</v><v s="COSTSHIGHER">19</v><v s="COSTSLOWER">8</v><v s="AVERWAGE">3.1</v></o>
<o d="2014-10-01"><v s="COSTS">2</v><v s="COSTSHIGHER">15</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">2.5</v></o>
<o d="2015-01-01"><v s="COSTS">-6</v><v s="COSTSHIGHER">17</v><v s="COSTSLOWER">23</v><v s="AVERWAGE">2.3</v></o>
<o d="2015-04-01"><v s="COSTS">1</v><v s="COSTSHIGHER">18</v><v s="COSTSLOWER">17</v><v s="AVERWAGE">2.2</v></o>
<o d="2015-07-01"><v s="COSTS">-3</v><v s="COSTSHIGHER">22</v><v s="COSTSLOWER">25</v><v s="AVERWAGE">2.1</v></o>
<o d="2015-10-01"><v s="COSTS">-4</v><v s="COSTSHIGHER">17</v><v s="COSTSLOWER">21</v><v s="AVERWAGE">2.3</v></o>
<o d="2016-01-01"><v s="COSTS">17</v><v s="COSTSHIGHER">34</v><v s="COSTSLOWER">17</v><v s="AVERWAGE">2.3</v></o>
<o d="2016-04-01"><v s="COSTS">-5</v><v s="COSTSHIGHER">14</v><v s="COSTSLOWER">19</v><v s="AVERWAGE">2.0</v></o>
<o d="2016-07-01"><v s="COSTS">14</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">13</v><v s="AVERWAGE">2.4</v></o>
<o d="2016-10-01"><v s="COSTS">21</v><v s="COSTSHIGHER">31</v><v s="COSTSLOWER">10</v><v s="AVERWAGE">2.4</v></o>
<o d="2017-01-01"><v s="COSTS">13</v><v s="COSTSHIGHER">25</v><v s="COSTSLOWER">12</v><v s="AVERWAGE">2.6</v></o>
<o d="2017-04-01"><v s="COSTS">22</v><v s="COSTSHIGHER">27</v><v s="COSTSLOWER">5</v><v s="AVERWAGE">3.0</v></o>
<o d="2017-07-01"><v s="COSTS">20</v><v s="COSTSHIGHER">31</v><v s="COSTSLOWER">11</v><v s="AVERWAGE">3.0</v></o>
<o d="2017-10-01"><v s="COSTS">25</v><v s="COSTSHIGHER">39</v><v s="COSTSLOWER">14</v><v s="AVERWAGE">3.4</v></o>
<o d="2018-01-01"><v s="COSTS">25</v><v s="COSTSHIGHER">37</v><v s="COSTSLOWER">12</v><v s="AVERWAGE">3.4</v></o>
<o d="2018-04-01"><v s="COSTS">18</v><v s="COSTSHIGHER">34</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">3.8</v></o>
<o d="2018-07-01"><v s="COSTS">18</v><v s="COSTSHIGHER">34</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">3.2</v></o>
<o d="2018-10-01"><v s="COSTS">23</v><v s="COSTSHIGHER">37</v><v s="COSTSLOWER">14</v><v s="AVERWAGE">3.9</v></o>
<o d="2019-01-01"><v s="COSTS">15</v><v s="COSTSHIGHER">30</v><v s="COSTSLOWER">15</v><v s="AVERWAGE">3.0</v></o>
<o d="2019-04-01"><v s="COSTS">7</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">21</v><v s="AVERWAGE">3.2</v></o>
<o d="2019-07-01"><v s="COSTS">13</v><v s="COSTSHIGHER">28</v><v s="COSTSLOWER">15</v><v s="AVERWAGE">3.0</v></o>
<o d="2019-10-01"><v s="COSTS">11</v><v s="COSTSHIGHER">21</v><v s="COSTSLOWER">10</v><v s="AVERWAGE">3.2</v></o>
<o d="2020-01-01"><v s="COSTS">10</v><v s="COSTSHIGHER">26</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">2.8</v></o>
<o d="2020-04-01"><v s="COSTS">-35</v><v s="COSTSHIGHER">13</v><v s="COSTSLOWER">48</v><v s="AVERWAGE">1.5</v></o>
<o d="2020-07-01"><v s="COSTS">-21</v><v s="COSTSHIGHER">20</v><v s="COSTSLOWER">41</v><v s="AVERWAGE">2.2</v></o>
<o d="2020-10-01"><v s="COSTS">0</v><v s="COSTSHIGHER">29</v><v s="COSTSLOWER">29</v><v s="AVERWAGE">3.3</v></o>
<o d="2021-01-01"><v s="COSTS">20</v><v s="COSTSHIGHER">37</v><v s="COSTSLOWER">16</v><v s="AVERWAGE">2.6</v></o>
<o d="2021-04-01"><v s="COSTS">43</v><v s="COSTSHIGHER">49</v><v s="COSTSLOWER">6</v><v s="AVERWAGE">4.0</v></o>
<o d="2021-07-01"><v s="COSTS">50</v><v s="COSTSHIGHER">58</v><v s="COSTSLOWER">8</v><v s="AVERWAGE">4.4</v></o>
<o d="2021-10-01"><v s="COSTS">72</v><v s="COSTSHIGHER">81</v><v s="COSTSLOWER">9</v><v s="AVERWAGE">4.8</v></o>
<o d="2022-01-01"><v s="COSTS">68</v><v s="COSTSHIGHER">74</v><v s="COSTSLOWER">6</v><v s="AVERWAGE">5.2</v></o>
<o d="2022-04-01"><v s="COSTS">61</v><v s="COSTSHIGHER">73</v><v s="COSTSLOWER">12</v><v s="AVERWAGE">5.8</v></o>
<o d="2022-07-01"><v s="COSTS">38</v><v s="COSTSHIGHER">57</v><v s="COSTSLOWER">19</v><v s="AVERWAGE">4.9</v></o>
<o d="2022-10-01"><v s="COSTS">31</v><v s="COSTSHIGHER">54</v><v s="COSTSLOWER">24</v><v s="AVERWAGE">4.7</v></o>
</observations>
</data>