The rising cost of living and inflation are expected to take center stage at the Federal Cabinet meeting scheduled to begin on Tuesday in Vancouver, where Prime Minister Justin Trudeau and federal ministers will meet from September 6 to 8 before Parliament returns later this month.

On the agenda will be the remarks ministers heard while away from the House of Commons during the summer, particularly inflation, rising food costs, and increasing gasoline prices. The three are also expected to be in the spotlight when the House of Commons returns on September 23.

While inflation eased slightly last month, it remains at its highest level in 40 years, amid an ongoing crisis in global supply chains caused by the COVID-19 pandemic and Russia's invasion of Ukraine. The latter has choked off gas flows to Europe and strangled grain and other commodities exported from Ukraine.

Interest rates continue to rise as central banks worldwide try to rein in inflation, which many previously insisted would be "temporary."

Bank of Canada is expected to raise interest rates again on September 7, with Bank Governor Tiff Macklem stating in a recent opinion piece published in the National Post that despite lower inflation, the central bank's mission to weaken consumer demand "is not over yet."