1, 2024, nearly double the 2.71-per-cent inflation rate he forecasts for the coming year. Tax credits and certain government benefits will rise by 5.08 per cent starting Jan. 'Inflation has come down but it's still high, interest rates went from zero to five per cent, we have two wars. To help Quebecers cope with the rising cost of living, the government is increasing certain tax credits and social benefits above the rate of inflation forecast for next year, he told a news conference in Quebec City. The next six months will be difficult due to high inflation and interest rates, Girard said Tuesday after releasing his economic update. Quebec Finance Minister Eric Girard has cut his projections for the province's economic growth in 2024 and is warning that Canada has entered a period of economic 'stagnation.'
