Published • loading... • Updated
August inflation likely held at three per cent as oil prices fell: economists
Reuters expects August inflation to stay at 3% as lower gasoline prices offset trade-war pressure on Canadian consumers.
- Economists predict Canada's annual inflation held at three per cent in August, as Statistics Canada prepares to release the latest consumer price index on Monday.
- Easing gasoline prices likely moderated inflation, though the Bank of Canada held its key policy rate unchanged at 2.25 per cent earlier this month, marking the seventh consecutive hold.
- Trade hostilities between Canada and the United States threaten consumers, though RSM Canada economist Tu Nguyen noted households can find substitutes to avoid 50 per cent tariffs.
- Nguyen stated that retaliatory levies are "not going to have a huge impact on inflation overall," even as crude prices hovered around US$100 per barrel recently.
- Bank of Canada Governor Tiff Macklem noted the economy is moving in line with forecasts, though officials warn higher energy prices could eventually push policymakers to raise rates.
Insights by Ground AI
10 Articles
10 Articles
The Toronto Star+8 Reposted by 8 other sources
August inflation likely held at three per cent as oil prices fell: economists
Economists expect inflation was steady in August as gasoline prices dropped from earlier in the summer, but the trade war between Canada and the United States will likely put some
·Toronto, Canada
Read Full ArticleCoverage Details
Total News Sources10
Leaning Left6Leaning Right0Center3Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
Factuality
To view factuality data please Upgrade to Premium
