(Ottawa) Economists expect the inflation rate to continue its decline in October in Canada, particularly since gasoline prices fell compared to September and food prices increased at a faster rate. slow.
Statistics Canada is scheduled to release its most recent report on the consumer price index on Tuesday, which will coincide with the federal government’s fall economic statement.
BMO expects the inflation rate to be 3.2% year-over-year in October, while RBC forecasts 3.1%.
The inflation rate stood at 3.8% in September in the country.
A further slowdown in inflation would be good news for the Bank of Canada, which is looking for evidence of a sustained slowdown in consumer price growth.
The central bank opted to keep its key interest rate at 5% at its last two policy meetings, largely due to recent weakness in economic indicators.
