Economists are predicting an even higher reading of inflation for June as energy and food prices crept higher and the economy reopened further.
. Now, economists are forecasting that number hit at least eight per cent last month.
Derek Holt, head of capital markets economics at Scotiabank, projects inflation hit 8.9 per cent in June due to a "reopening effect." "Oil prices rose another 4.8 per cent from May and consumer food prices have been surging in part due to higher commodity prices and acute supply chain disruptions," the report said.
"Restoring price stability -- low, stable and predictable inflation -- is paramount," said bank governor Tiff Macklem in a news conference following the rate announcement.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inflation climbed even higher in June amid ‘reopening effect’, economists predict - National | Globalnews.caStatistics Canada will release inflation data for June on Wednesday, a week after the Bank of Canada raised its key interest rate by a full percentage point.
Read more »
![Solana [SOL] might retest June lows before another major rally and this is why…](https://i.headtopics.com/images/2022/7/17/cryptoamb/solana-sol-might-retest-june-lows-before-another-major-rally-and-this-is-why-1548465774183923720.webp?w=640)
Solana [SOL] might retest June lows before another major rally and this is why…Solana [SOL] has been struggling to recover above $40 after ending June on a bearish performance. This is despite its bullish start this month but the reason for this subdued performance is now evident upon further inspection. It turns out that SOL has been trading within a wedge pattern underscored by descending support and ascending […]
Read more »
Canadian home prices spiral down in JuneThe number of home resales fell 5.6 per cent from May to June on a seasonally adjusted basis. Activity was down in three-quarters of the country
Read more »
China-focused miner Silvercorp reports 26% silver production increase in June quarterA roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Read more »
June home sales down 24% from last year, 6% since May: CREAThe national real estate market\u0027s cooling continued with home sales falling again in June.
Read more »
Inflation climbed even higher in June amid ‘reopening effect’, economists predict - National | Globalnews.caStatistics Canada will release inflation data for June on Wednesday, a week after the Bank of Canada raised its key interest rate by a full percentage point.
Read more »