'Hopefully we have seen the peak': Economists await July CPI data

Statistics Canada is set to release the latest set of consumer price inflation data on Tuesday.

The median estimate among economists is a 7.6 per cent year-over-year rise in July. 

“I think we're going see lower overall inflation,” Pedro Antunes, chief economist at the Conference Board of Canada, said over the phone Monday.

“Hopefully we have seen the peak at 8.1 per cent last month and we'll see something lower than that with the July data.”