Statistics Canada will release August Consumer Price Index (CPI) data on Tuesday, September 19 at 12:30 and as we get closer to the release time, here
are the forecasts by the economists and researchers of five major banks regarding the upcoming Canadian inflation data.
Headline inflation is expected at 3.8% year-on-year vs. 3.3% in July. If so, headline would accelerate for the second straight month to the highest since April and further above the 2% target. On a monthly basis, CPI is seen at 0.2% vs. the prior release of 0.6%.Higher energy prices will push headline price growth higher. We expect a 3.7% YoY rate in August, up from 3.3% in July. The BoC’s preferred core measures may tick higher on a YoY basis due to soft year-ago ‘base effects’ .
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