OTTAWA -- Statistics Canada will report this morning how fast consumer prices rose in July compared to last year with the annual inflation reading expected to remain elevated.
The country's headline inflation barometer registered a year-over-year increase of 3.1 per cent in June as the pace of price growth slowed from the 3.6 per cent recorded in May.
May's reading was the largest yearly increase in a decade.
RBC Economics forecasts that consumer price index will rise at an annual rate of 3.4 per cent in July because of supply chain disruptions and the comparisons to the lows recorded one year ago.
The Bank of Canada has warned that inflation is likely to hover around three per cent this year but largely because of base-year effects.
Governor Tiff Macklem has said the central bank will act to cool inflation should temporary price pressures stick around and appear more permanent.
https://news.google.com/__i/rss/rd/articles/CBMihAFodHRwczovL3d3dy5jcDI0LmNvbS9uZXdzL3N0YXRpc3RpY3MtY2FuYWRhLXRvLXJlcG9ydC1qdWx5LWluZmxhdGlvbi1kYXRhLXdpdGgtYW5udWFsLXJhdGUtZXhwZWN0ZWQtdG8tYmUtYWJvdmUtMy1wZXItY2VudC0xLjU1NTE0MTjSAQA?oc=5
2021-08-18 10:16:58Z
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