Canada CPI Preview: Forecasts from five major banks, better inflation, but not yet good enough Canada USDCAD Inflation BOC Banks
data on Tuesday, July 18 at 12:30 and as we get closer to the release time, here are the forecasts by the economists and researchers of five major banks regarding the upcoming Canadian inflation data.
Headline CPI is seen declining to 3.0% year-on-year vs. the prior release of 3.4%. If so, headline inflation would be the lowest since March 2021 but still above the 2% target. On a monthly basis, it is expected to show a pace of 0.3% vs. the former release of 0.4%. We look for headline CPI to rise by 0.3% MoM as base effects pull inflation to 3.0% for the first time since March '21.
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