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CANADA DATA: Share Of Services With Inflation >3% Y/Y Almost 'Normal' Again

CANADA DATA
GlobalCanadaData BulletBulletMarketsFixed Income BulletsForeign Exchange BulletsRegionNorth America
  • By our calculations, the share of 185 items across the entire CPI basket growing in excess of 3% Y/Y broadly consolidated August’s latest decline, at 26.5% to hold below both the 33% averaged in 2019 and 28% in the longer-term pre-pandemic average.
  • The distribution became a little more favorable for the BoC though: the goods share increased from 21.5% to 23% (still below the 2019 av of 34%, long-term 26%), whilst services nudged fell further from 37% to 35% for a step closer to the 31% seen in both 2019 and longer-term.
  • This services share has seen greater convergence than its US counterpart.
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  • By our calculations, the share of 185 items across the entire CPI basket growing in excess of 3% Y/Y broadly consolidated August’s latest decline, at 26.5% to hold below both the 33% averaged in 2019 and 28% in the longer-term pre-pandemic average.
  • The distribution became a little more favorable for the BoC though: the goods share increased from 21.5% to 23% (still below the 2019 av of 34%, long-term 26%), whilst services nudged fell further from 37% to 35% for a step closer to the 31% seen in both 2019 and longer-term.
  • This services share has seen greater convergence than its US counterpart.