"TERMS AND CONDITIONS" "https://www.bankofcanada.ca/terms/" "NAME" "Chart 7: Firms’ short-term inflation expectations remain elevated" "DESCRIPTION" "Expectations for inflation at different horizons" "" "BLP is the Business Leaders’ Pulse, and BOS is the Business Outlook Survey. The BOS 2‑year estimate is based on firms’ responses to the BOS question, “Over the next two years, what do you expect the annual rate of inflation to be, based on the consumer price index?” Firms can select from predetermined ranges and provide a point estimate. In cases where a firm selects a range only: if the range is closed, a midpoint is used; if the range is open‑ended, the average expectation of other firms in that range is used. The BLP survey asked businesses, “What do you expect the rate of annual inflation to be in about one, two and five years from now?” BLP estimates use the midpoints of multiple-choice buckets, with values assigned to open-ended buckets (-1% and 9% for the “deflation” and “8% or higher” buckets, respectively). This question was not asked in the BLP in January or March 2022. January 2023 results are preliminary and range from January 4 to 10, 2023." "LINK" "https://www.bankofcanada.ca/?p=230745" "SERIES" "id","label","description" "BOS_2022Q4_C7_S1","BLP, 1-year-ahead","" "BOS_2022Q4_C7_S2","BLP, 2-year-ahead","" "BOS_2022Q4_C7_S3","BLP, 5-year-ahead","" "BOS_2022Q4_C7_S4","BOS, 2-year estimate","" "OBSERVATIONS" "date","BOS_2022Q4_C7_S1","BOS_2022Q4_C7_S2","BOS_2022Q4_C7_S3","BOS_2022Q4_C7_S4" "2021-03-01","","","","2.30" "2021-06-01","","","","2.80" "2021-09-01","","","","3.10" "2021-11-01","4.40","3.26","2.59","" "2021-12-01","4.44","3.22","2.65","3.84" "2022-02-01","4.72","3.36","2.84","" "2022-03-01","","","","3.89" "2022-04-01","5.37","3.64","2.62","" "2022-05-01","5.14","3.28","2.56","" "2022-06-01","5.42","3.36","2.52","4.78" "2022-07-01","5.58","3.47","2.64","" "2022-08-01","5.58","3.40","2.64","" "2022-09-01","4.95","3.13","2.54","4.26" "2022-10-01","4.77","2.95","2.45","" "2022-11-01","4.66","3.07","2.31","" "2022-12-01","4.68","3.14","2.49","4.18"