Canada Loses its Inflation Immunity in April
Abstract:
After four straight months of decline, the year-over-year change in Canada’s all-items Consumer Price Index (CPI) headed back up again in April 2008. The latest inflation rate of +1.7% was still quite restrained and well below the kind of increase that would set off any cries of alarm. Core inflation (+1.5%) was a shade lower than the all-items rate, although it also jogged up slightly versus the previous month. The Bank of Canada is likely to be quite cautious when it next sets interest rate policy on June 10th.
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After four straight months of decline, the year-over-year change in Canada’s all-items Consumer Price Index (CPI) headed back up again in April 2008. The latest inflation rate of +1.7% was still quite restrained and well below the kind of increase that would set off any cries of alarm. Core inflation (+1.5%) was a shade lower than the all-items rate, although it also jogged up slightly versus the previous month. The Bank of Canada is likely to be quite cautious when it next sets interest rate policy on June 10th.