Analysts at National Bank Financial suggest that in Canada, a lot of attention will be on July’s consumer price index and the headline CPI may have increased 0.1% m/m (not seasonally adjusted), supported by an above-average rise in gasoline prices.
Key Quotes
“This would allow the annual inflation rate to increase one tick to 2.6%. The annual rate of CPI-common, for its part, should remain unchanged at 1.9%.”
“In June, manufacturing shipments may have posted another decent advance based on a healthy increase in exports of factory goods during the month.”
“Information on the state of the housing market in July will also be available with the release of the the Teranet-National Bank Composite Home Price Index ® and existing home sales.”
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