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CPI In Local Focus - 0830ET

CANADA
  • CPI inflation for Dec at 0830ET. Consensus has headline at 6.4% Y/Y (-0.4pps, peak 8.1% Jun) and the BoC’s two core measures averaging 5.05% Y/Y (-0.1pp, peak technically 5.2% Jul).
  • It follows yesterday’s BoC surveys that were somewhat mixed on inflation expectations (general improvement but still very high and new record breadth of firms expecting above 3% for two years) but with cooling demand driving a further dovish reaction in FI.
  • Also see housing starts beforehand at 0815ET, so far holding up much more strongly than the almost -40% Y/Y slide in home sales.

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