Bank of Canada to cut rates first?

Thursday, 18 April 2024

Statistics Canada released the consumer price index (CPI) for the March quarter. The CPI rose 2.9% year-over-year in March, up from a 2.8% gain in February.

Excluding gasoline prices, CPI slowed to a 2.8% year-over-year increase, down from a 2.9% gain in February.

The below chart from Justin Fabo at Antipodean Macro compares Canada’s core inflation against other developed nations:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.