Swings in inflation not ‘unusual,’ but underlying price pressures still high: BoC
BNN Bloomberg
Bank of Canada deputy governor Sharon Kozicki says swings in the inflation rate are to be expected in a speech coming after the latest consumer price index report showed inflation climbed in August for the second month in a row.
Statistics Canada reported today that inflation ticked up to four per cent last month, up from 3.3 per cent in July amid higher gasoline prices.
Kozicki weighed in on the numbers during a speech at the University of Regina on Tuesday.
"Ups and downs of the size we’ve seen in the past couple of months are not that unusual and are one reason why we look at measures of core inflation — which exclude components with more volatile price movements — to get a sense of what underlying inflation is," Kozicki said, according to prepared remarks.
