Inflation glass remains half full—and 6.9% more expensive
While many economists predicted a rise in the overall inflation rate, Statistics Canada revealed on Wednesday that consumer prices were going up at the exact same pace as they were last month. So, things might not be getting worse—but they’re not exactly getting any better.
Source: CBC News
With more than half of the subcategories that the consumer price index (CPI) tracks up over 5% on a year-over-year basis, many experts remain worried about widespread inflationary pressures.
Overall, the market seemed to take the news in stride, as the Canadian stock market’s TSX 60 index was essentially flat last Wednesday. Relative to the big gains we saw upon last week’s American inflation data, it appears that Canada remains in a holding pattern. Betting markets now believe the chances of a 0…