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Inflation Data Shows High Energy Prices Still Contained, for Now: Economists
Gasoline prices jumped 27.8% from a year earlier, while core inflation eased and economists said the increase has not spread broadly.
- Canada's annual inflation rate climbed to 3.1% in September, driven primarily by surging energy costs, Statistics Canada reported on Monday.
- Gasoline prices surged 27.8% last month compared with a year earlier, while heating oil and other fuels jumped 57.8%, hitting Atlantic Canada consumers hard.
- Underlying price pressures remained contained as core inflation measures eased slightly; CPI-trim fell to 1.8% and CPI-median declined to 1.9% in September.
- BMO chief economist Douglas Porter said the inflation report "does nothing to advance the case for interest rate hikes," while Bank governor Tiff Macklem warned resilience is increasingly "under strain."
- CIBC Capital Markets economist Andrew Grantham suggested policymakers can take more time to assess U.S. trade relations and tariffs before raising rates, despite market expectations rising after Macklem's "hawkish tone" over the weekend.
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Canadian Inflation Remained Contained in September - ActionForex
No jump scares in Canada's inflation in September, in contrast to higher inflation south of the border. The hottest inflationary categories remain those most directly related to the spike in oil prices this year: energy and airfares. Looking at the Bank of Canada's preferred inflation metrics over the past six months, inflation is only two tenths above their 2% target (2.2%). Surprisingly the 2-Year yield is only off slightly since the release.
Coverage Details
Total News Sources20
Leaning Left15Leaning Right0Center2Last UpdatedBias Distribution88% Left
Bias Distribution
- 88% of the sources lean Left
88% Left
L 88%
12%
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