What the latest inflation data means for the upcoming Bank of Canada rate decision - Mortgage Rates & Mortgage Broker News in Canada
What the latest inflation data means for the upcoming Bank of Canada rate decision - Mortgage Rates & Mortgage Broker News in Canada
Abstract
The Consumer Price Index (CPI) accelerated to an annual rate of 7.7% in May. That’s a 1.4% increase from April, and more inflation than Canadians had to contend with in all of 2015. Core inflation rose to 4.73%, up from 4.23% in April, the highest it’'s reached since 1990. The biggest contributors to the increase were rising prices for gasoline and hotels and cars. Bond markets are now pricing in roughly 77% odds.
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