Inflation, Canada and Central Bank
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Inflation surged more than expected
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Canada's annual inflation rate rose to 1.9% in June, meeting analysts' expectations, as increases in the price of automobiles, clothing and footwear pushed the index higher, data showed on Tuesday. The consumer price index was at 1.
Canadian consumer prices accelerated for the first time in four months and underlying price pressures firmed, likely keeping the central bank from cutting interest rates later this month.
“The major measures of core inflation both remained stubbornly stuck right around three per cent,” Douglas Porter, chief economist at BMO Capital Markets, said in a note, adding that the share of goods in the CPI basket that remain elevated hasn’t continued to improve, either.
Shares on Canada's main exchange pulled back after inflation data offered a fresh signal the central bank is likely to again hold interest rates steady this month.
Canada's year-on-year inflation rate hit 1.9 percent in June, official data showed Tuesday, as the impacts of US President Donald Trump's trade war pushed up prices for certain goods.
Provinces across Canada pulled American-made whiskey, vodka and other alcoholic drinks from their shelves earlier this year in response to tariffs. U.S. spirits companies are paying the price. From early March through the end of April,
According to Statistics Canada data released on Tuesday, Canada's inflation rate increased to 1.9% per year in June, up from 1.7% in May.
Canada's annual inflation rate rose to 1.9% in June, meeting analysts' expectations, as increases in the price of automobiles and clothing and footwear pushed the index higher, data showed on Tuesday.
The Canadian Press on MSN4h
June price data coming from Statistics Canada as markets expect higher inflationBMO expects inflation rose beyond that to two per cent in June as food and transportation costs pushed prices higher for consumers. The June inflation report will be the Bank of C