Canada: Inflation Accelerates in May

Headline CPI inflation edged higher in May to 2.9% year-on-year (y/y), above expectations for a 2.6% y/y print. The acceleration was led by services, which were up 4.6% y/y, as Canadians were paying up for travel tours (+6.9% y/y) and flights (+4.5% y/y). This continues a trend where Canadians have been increasingly willing to spend […]

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