Statistics Canada will release February Consumer Price Index (CPI) data on Tuesday, March 19 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.
Statistics Canada will release February Consumer Price Index data on Tuesday, March 19 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. The annual headline CPI is anticipated to have accelerated to 3.1% from 2.9% in January. If so, inflation would move further above the 2% target which means the BoC can be patient before loosening policy.
Higher prices at the pump in February likely helped push headline CPI up a tick to 3.0% YoY, reflecting a 0.6% NSA monthly increase. That would also include an acceleration in ex. food/energy prices to 0.3% MoM SA, as some volatile segments that showed large declines in January could have seen a turnaround in February, adding to increases in shelter prices.
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