Mixed Inflation Pressures Keep Outlook Steady
The average one-year inflation expectation held steady in July, while the three-year inflation expectation rose slightly after remaining unchanged for two consecutive months. Consumer confidence has shown resilience but may be showing signs of softening in the medium term as trade-related uncertainties begin to take hold.
With Canadians likely to continue adjusting their inflation expectations based on how the Canada–U.S. trade relationship unfolds, what elements are spurring the differing expectations among regions in Canada? Which core consumer goods prices have applied downward pressure to inflation, and which have accelerated it? Will the strengthening Canadian dollar offset CPI pressures in the face of higher shelter costs and interest rates?
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