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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CANADA
- Dispersion measures offer another way to limit any potential impact from the new weights in today’s CPI release.
- Pleasingly for the BoC, our estimates across 185 items suggests that the overall share of the entire CPI basket growing in excess of 3% Y/Y was almost unchanged as it only ticked up from 33% to 33.5%.
- It’s consolidation of a large decline seen previously earlier in the year, returning to the 33% averaged in 2019 having ended 2023 at 55%.
- Where the Bank will be more concerned though is that the services share more than gave up its April improvement. Specifically, 52% of the 54-item basket was growing >3% Y/Y after the 46% in April marked the lowest since Sep’21 in a long-awaited clearer step lower.
- For context, it’s still an improvement from the 63% it ended 2023 but it remains significantly higher than the 31% averaged through 2019.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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