Canada, inflation rate
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Canada’s annual inflation rate eased to 1.7 per cent in July from 1.9 per cent in the prior month as lower year-on-year gasoline prices kept the consumer price index low, but core measures of inflation stayed sticky,
Canada’s inflation rate fell by slightly more than expected in July to 1.7 per cent, which economists say could pave the way for the Bank of Canada to resume cutting interest rates.
Inflation eased slightly in July, but core measures remain sticky, leaving economists doubtful the Bank of Canada will change course in September.
The Canadian dollar hit its lowest in almost three weeks against its U.S. counterpart on Tuesday as oil prices fell and cooler domestic inflation data raised expectations the Bank of Canada would cut interest rates in the coming months.
Although inflation in Canada eased to the Bank of Canada’s 2% target in August, Royal Bank of Canada economists aren’t partying. They argue 2024’s 2% inflation isn’t 2019’s 2%.
Consumer inflation in Canada rose by less than expected in July, according to Statistics Canada, as falling gasoline prices offset price increases elsewhere.
Canada's main stock index inched lower on Monday as investors avoided big bets ahead of domestic inflation data due on Tuesday and a key U.S. central bank conference starting on Friday. At 9:55 a.m. ET (1355 GMT),
The annual rate of inflation cooled to 1.7 per cent in July, according to Statistics Canada, down from 1.9 per cent in June. Lower gasoline prices fuelled the decline, but the agency says Canadians were facing higher costs at the grocery store last month.
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