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(U1) Fades Off 2021 Highs


BMO Maintain "Range-Trading Bias"

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Canadian small businesses plan the largest price increases on record at 4.7% over the next year, an industry survey Thursday showed, reflecting optimism about the economy re-opening after three pandemic lockdowns and gains in vaccinations. The average planned price increase has climbed from a low of 1.9% in December, the Canadian Federation of Independent Business Barometer for June showed. The share of firms planning increases of at least 6% climbed to 34% from 23% in May. The group's figures on price trends go back to 2009.

The BOC expects inflation around 3% in coming months on temporary gains in gasoline prices, later moderating as slack in the economy holds down sustained gains. The overall Barometer tracking conditions seen over the next year rose to the highest since 2005, by about 4 points to 70.1.

Source: CFIB