Canadian CPI Preview: Forecasts from five major banks, inflation to breach 6% Canada CPI Macroeconomics USDCAD Banks
reading we forecast more than triple the 2% target and the highest since early 1991. Energy, food and housing costs will continue to be the key drivers but look for further signs of a broadening in inflationary pressure, including an upward move in the average of the BoC’s three inflation measures. While goods price inflation decelerated somewhat in the US CPI figures released earlier, that was largely due to a decline in used car prices that aren’t tracked in the Canadian inflation basket.
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