OTTAWA — Canada's inflation rate jumped to four per cent last month, as economists warn the latest consumer price index report spells bad news for the Bank of Canada.
Statistics Canada released its latest inflation reading on Tuesday, which shows the annual rate rose from 3.3 per cent in July, marking the second consecutive month inflation has risen.
Core measures of inflation strip out volatility in prices and play a significant role in how the Bank of Canada judges inflationary pressures. Recent data showed the economy shrank in the second quarter while the unemployment rate has trended higher. "Our view at the moment is that they're going to place weight on the weakening of the economy," Grantham said, though he noted the next rate decision will be a"close call."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Here's a list of August inflation rates for selected Canadian citiesOTTAWA — Canada's annual inflation rate was 4.0 per cent in August, Statistics Canada says.
Read more »
There is only so much Ottawa can do about Canada’s housing crisisYou might as well install a grim federal commissar on every city council across the land, to ensure local officials are doing the party’s – sorry, the federal government’s – bidding
Read more »
Posthaste: Why the Bank of Canada pause won't save the housing market this timeBank of Canada interest rate pause is not likely to revive Canada\u0027s housing market like it did in the spring, economists say. Find out more
Read more »
Posthaste: Why the Bank of Canada pause won't save the housing market this timeBank of Canada interest rate pause is not likely to revive Canada\u0027s housing market like it did in the spring, economists say. Find out more
Read more »
Posthaste: Why the Bank of Canada pause won't save the housing market this timeNo real recovery until the Bank cuts rates, say economists
Read more »