In this report, we look at Canadian households’ expectations for inflation over the next year and next three years. Average one-year inflation expectations eased for the second month in a row, down 0.1 percentage points to 3.3 per cent in July. Average three-year inflation expectations held at 3.6 per cent. While the three-year average remains unchanged from June, both average one-year and three-year inflation expectations are at their lowest points since November 2021.
With the inflation outlook showing improvement, what remains the biggest issue preventing its stabilization? What implications does the relatively stagnant employment scene have for the labour market and consumer spending? Which regions show the highest levels of optimism regarding inflation? The lowest?
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