Statistics Canada to release April inflation figures today

OTTAWA –

Statistics Canada will give its newest studying of how a lot the price of dwelling has risen when it releases inflation figures for April this morning.

The company’s client worth index posted a year-over-year enhance of 6.7 per cent in March, the quickest tempo since January 1991.

The Financial institution of Montreal is predicting the report at the moment will present a year-over-year enhance of 6.8 per cent for April.

BMO chief economist Douglas Porter says it now looks as if solely a matter of time earlier than the annual inflation charge tops seven per cent.

In its financial coverage report final month, the Financial institution of Canada said it anticipated inflation to common virtually six per cent within the first half of the 12 months, nevertheless it has since said it can possible be revising its forecast.

The central financial institution raised its key rate of interest goal by half a share level to at least one per cent final month in a bid to assist sluggish inflation and warned that extra charge hikes are coming.

This report by The Canadian Press was first printed Could 18, 2022.