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RBC With Below Consensus Call For CPI

CANADA
  • RBC see headline CPI inflation accelerating to 6% Y/Y in March (consensus 6.1%) from the 5.7% in February.
  • Soaring gasoline prices are expected to account for almost a quarter of the increase in Y/Y terms and about half the rise on the month.
  • Home buying costs are also expected to have moved higher again in March.
  • Ahead of the release, RBC note that price pressures are broadening out, with about two-thirds of the CPI basket growing above the 2% inflation target.
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  • RBC see headline CPI inflation accelerating to 6% Y/Y in March (consensus 6.1%) from the 5.7% in February.
  • Soaring gasoline prices are expected to account for almost a quarter of the increase in Y/Y terms and about half the rise on the month.
  • Home buying costs are also expected to have moved higher again in March.
  • Ahead of the release, RBC note that price pressures are broadening out, with about two-thirds of the CPI basket growing above the 2% inflation target.