Notes From The Desk: Canadian CPI – The Cut Is On
A sigh of relief could be heard this morning coming from the Bank of Canada. Today’s CPI numbers provided evidence that last month’s data was a blip on the radar and that the trend in inflation remains downward.
By the numbers:
- Headline CPI: 2.7%, in line with estimates and below last month’s print of 2.9%.
- CPI Core Median: 2.6%
- CPI Core Trim: 2.9%
- CPI ex-Mortgage Costs: 1.9%
The implications:
Today’s inflation data coupled with rising unemployment, should make the decision to cut next week easy.
