Canadian Consumer Price Index – slight fall in inflation rate in April
May 21, 2024
Statistics Canada will release its April Consumer Price Index report on Tuesday morning. Economists expect Canada’s annual inflation rate to fall slightly last month from 2.9% in March. The RBC forecast prices were 2.7 percent higher in April compared with a year earlier.The Bank of Canada will be watching Tuesday’s report closely as it prepares for its June 5 interest rate decision. Financial markets are leaning toward a rate cut in July, but economists say new inflation data will help to firm expectations.
