Economists expect rise in headline inflation number for July
BNN Bloomberg
Economists are calling for a rise in Canadian headline inflation for July but expect signs of cooling within the core inflation data for the month.
Statistics Canada is set to release its latest consumer price index (CPI) data on Tuesday. Economists tracked by Bloomberg are calling for inflation to tick up to 3.0 per cent for July annually and post a 0.3 per cent rise month-over-month. This would mark a reversal from the previous month’s decline of 2.8 per cent in inflation.
Derek Holt, Scotiabank’s vice-president and head of Capital Markets Economics,stands by the forecasts.
“I expect goods inflation to be at the recent trend (0.1 to 0.3 per cent month-over-month) while services are expected to accelerate from June’s relative softness,” he wrote in an email to BNNBloomberg.ca on Monday.
