Canada Inflation Hits 3.2% in May on Energy, Airfares, Food – RBC
Canadian consumer price inflation rose to 3.2% year-over-year in May, driven by higher energy costs, airfares, and food, according to RBC economist Abbey Xu.
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Canada's annual inflation rate accelerated to 3.2% in May, up from 2.7% in April, according to data cited by Royal Bank of Canada economist Abbey Xu.
The increase was primarily driven by higher energy prices, along with rising airfares and food costs. The report highlights persistent price pressures in key consumer categories.
Xu's analysis suggests that energy remains a significant factor pushing inflation above the Bank of Canada's target range. The data may influence the Bank of Canada's monetary policy outlook.
Source: FXStreet Forex News