Statistics Canada is set to release its latest inflation reading Wednesday.
OTTAWA -- Statistics Canada is set to release its latest inflation reading today.
The consumer price index for May reflects a month that saw the gradual reopening of businesses that were shut due to the COVID-19 pandemic. Economists on average expect the consumer price index to remain unchanged compared with a year ago -- meaning an inflation rate of zero. That would compare with a year-over-year decline of 0.2 per cent in April, when energy prices plunged.The Bank of Canada looks to the annual pace of inflation as its key target when setting its trend-setting interest rate.Signage mark the Statistics Canada offices in Ottawa on July 21, 2010. THE CANADIAN PRESS/Sean Kilpatrick
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