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Consumer Inflation Expectations Mostly Ease, Less Optimistic On Job Search


The BoC's consumer survey also showed some further progress in consumer inflation expectations, notably in its 5Y measure considering the sideways trend in the business equivalent, but short-term expectations are still high.

  • 1Y 5.03%, little change from 5.09% Q2 after what was a large drop from 6.03% in Q1 - lowest since 4Q21.
  • 2Y bucked the trend and increased to 4.04% from 3.93% in Q2 for what had been the lowest since 3Q21.
  • 5Y 2.75% from 2.89%/2.92% in Q2/Q1, continuing to extend lows for the series.
  • Separately from the CSCE, consumers are historically optimistic about the labour market except for a sharp deterioration in expectations about the length of a job search.

Source: Bank of Canada

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