The Mercury Rises on Canadian Inflation in May

Consumer price inflation heated up in May, rising to 7.7% year-on-year (y/y), up from 6.8% in April. That was the fastest pace since January 1983, and higher than forecasters, including ourselves, were expecting. Gasoline prices were a key driver, with prices at the pump up 12% month/month, and 48% y/y. For energy prices as a […]

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