CA - Inflation In Canada Throws Another Curveball: Core CPI Spikes Month-To-Month By Most Since 2022
2024-06-26 04:10:00 ET
Summary
- When the Bank of Canada cut its policy rates by 25 basis points earlier in June, it based that cut on the inflation rates that had cooled sharply, and it based further cuts on these trends continuing.
- The BoC’s two preferred inflation measuring sticks for its monetary policy decisions - CPI trim and CPI median - both re-accelerated sharply month-to-month.
- The CPI for shelter, which includes rents and a separate measure tracking the costs of homeownership remained very high, though it was less hot than it had been last year.
It was obviously "unexpected." But the Bank of Canada has been leery of this sort of mess showing up. ...
Inflation In Canada Throws Another Curveball: Core CPI Spikes Month-To-Month By Most Since 2022