Forecasters anticipate Canada’s inflation rate took another dip in October as gasoline prices fell from the previous month and grocery prices rise more slowly.
Statistics Canada is set to release its consumer price index report tomorrow, coinciding with the federal government’s fall economic statement.
BMO expects the annual rate to come in at 3.2 per cent for October, while RBC is forecasting the rate fell to 3.1 per cent.
OBJ360 (Sponsored)
DaaS: The mobile device management solution you never heard of
DaaS or “Device as a service” is a revolutionary communications strategy for businesses that rely on mobile devices to connect their employees, and it’s offered by a company an hour’s
Why a backyard coach house could be the quickest route to a new home
Building a backyard coach house is easier thanks to Bill 23, and Ottawa General Contractors are helping home owners make it happen.
Canada’s inflation rate came in at 3.8 per cent in September.
A further slowdown would be welcome news for the Bank of Canada as it looks for evidence of a sustained slowdown in consumer price growth.
The central bank opted to hold its key interest rate steady at five per cent at its last two decision meetings, largely due to recent weak economic data.