Inflation eases but core measures signal higher interest rates [Toronto Globe and Mail (Ontario, Canada)]
Canadian Imperial Bank of Commerce (CM)
Last canadian imperial bank of commerce earnings: 2/26 05:53 am
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Source: Toronto Globe and Mail
Canada’s overall inflation rate eased for the first time in four months in August, but another uptick in core measures of inflation suggest that further Bank of Canada interest-rate increases remain on track. Statistics Canada reported Wednesday that the consumer price index 12-month inflation rate dipped to 2.8 per cent last month from 3 per cent in July, its first decline since April. CPI dipped 0.1 per cent from July on a non-seasonally adjusted basis, snapping a seven-month string of month-over-month gains. Declines in transportation costs were the key source of the monthly downturn, as gasoline prices and airline tickets both reversed some of their previous strong gains. But the Bank of Canada’s three favoured measures of so-called core inflation – which filter out short-term volatility in individual components in order to better gauge underlying inflation across the broader economy – all rose 0.1 percentage point, averaging 2.1 per cent. All three measures were at or
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- CM's page on the SEC website