The last time that headline year-over-year CPI was within the central bank's target range was March 2021 From m_zadikian
The Bloomberg consensus among economists is that inflation fell to 3 per cent in June, from 3.4 per cent in May. THE CANADIAN PRESS/Darryl Dyck
However, some economists including those at RBC Economics and National Bank see the headline figure coming in a touch lower, at 2.9 per cent."Much of that slowing has come from lower energy prices. Gasoline prices were running 20% below year-ago levels in June after surging last year on higher oil prices," RBC Economics said in a note last Friday.
The last time inflation was within the Bank of Canada's target range was March 2021, when the year-over-year reading was 2.2 per cent.While the headline number might get the most attention, core inflation measures, which can be a better gauge of underlying pressures, are arguably more important to the Bank of Canada.
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