Canada May CPI Seen at 3.1% YoY – TD Securities

TD Securities strategists expect Canada's May Consumer Price Index (CPI) to show a firming in inflation. The headline CPI is projected to come in at 3.1% year-on-year and 0.8% month-on-month, supported by rising energy prices and seasonal factors.

The forecast points to continued inflationary pressure, with energy costs playing a key role in the monthly increase. No further details on core metrics or regional breakdowns were provided in the note.