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Bank of Canada Governor Stephen Poloz’s view that rising prices for meat and other products is a temporary trend doesn’t sit well with Terry Scanlon, who sells hot dogs a few blocks from Poloz’s office in Ottawa.

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The Canadian dollar’s massive rally over the past three months disappeared in thin air last week. Now economists are predicting it could fall as low as 76 cents by June.





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Soaring costs for meat forced Scanlon to increase the price of his wares at Hot Diggitty Dog by 25 per cent last month, one of the biggest price hikes since he set up his cart near Parliament Hill in 1983.

“I haven’t made as much as in years before,” Scanlon, 70, said in an interview, adding he doubts the beef price gains will be reversed any time soon. “Definitely the costs have gone up for meat.”

Scanlon’s $2.50 hot dog underscores the inflation quandary facing Poloz ahead of his next rate announcement on Wednesday: While overall inflation remains tame, so-called core prices for items such as meat, telephone services and cars keep rising.