Ahead of Statistics Canada’s release of the May consumer price index, economists expect inflation to increase, citing higher oil and gasoline prices. Multiple outlets report that energy costs are likely to put upward pressure on the overall inflation rate for the month. City News Toronto notes that the consensus forecast is that the annual inflation rate rises to 3.0% in May, up from 2.8% in April, when Statistics Canada publishes the CPI. The reports also emphasize that analysts will look beyond headline figures to determine whether higher gasoline prices are spreading to other parts of the economy. While energy prices are expected to be a key factor, the specific drivers behind the CPI change—such as whether other categories also show acceleration—are expected to determine how economists interpret the inflation trend. The data release is scheduled for Monday morning, with the expectation that the May CPI will reflect the impact of recent movement in oil and fuel prices.
Economists expect higher May inflation as oil and gasoline prices rise
Ahead of Statistics Canada’s release of the May consumer price index, economists expect inflation to increase, citing higher oil and gasoline prices. Multiple outlets report that energy costs are like...
- Statistics Canada is set to release the May consumer price index on Monday morning.
- Economists expect higher inflation in May, largely due to higher oil and gasoline prices.
- The forecast cited by outlets is that annual inflation rises to about 3.0% in May from 2.8% in April.
- Analysts will also assess whether fuel-driven price increases spread to other categories beyond energy.
OTTAWA — Statistics Canada will release its latest reading for May inflation today. High oil and gasoline prices are expected to push inflation higher for the month. The consensus among economists is that the annual inflation rate rose to three per cent in May, from 2.8 per cent in April. T-D Bank senior economist Andrew […]
2 months agoHigh oil and gasoline prices are expected to push inflation higher when Statistics Canada reports its consumer price index for May on Monday.
2 months agoOTTAWA — High oil and gasoline prices are expected to push inflation higher when Statistics Canada reports its consumer price index for May on Monday. But the devil will be in the details as economists look for any signs that the cost at the gas pump is causing inflation to heat up elsewhere in the […]
2 months agoOTTAWA — High oil and gasoline prices are expected to push inflation higher when Statistics Canada reports its consumer price index for May on Monday.
2 months ago
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