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MNI BRIEF: Canada Inflation Slows Gradually This Year-Macklem

(MNI) Ottawa
OTTAWA (MNI)

Bank of Canada Governor Tiff Macklem said inflation will slow gradually this year and today's elevated prices are different than the 1970s in some important ways.

"I’ll be blunt. We’ve seen a big burst in inflation the first half of the year, and that’s going to be in those year-over-year numbers for a while, so it’s going to come down pretty gradually," according to a transcript Friday of a talk Macklem had Thursday with CFIB.

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Bank of Canada Governor Tiff Macklem said inflation will slow gradually this year and today's elevated prices are different than the 1970s in some important ways.

"I’ll be blunt. We’ve seen a big burst in inflation the first half of the year, and that’s going to be in those year-over-year numbers for a while, so it’s going to come down pretty gradually," according to a transcript Friday of a talk Macklem had Thursday with CFIB.

Keep reading...Show less