Tracking inflation is getting downright boring.
Except for our collective sighs about the price of gasoline, there’s not much to discuss. And little for the Bank of Canada to worry about.
Economists expect Statistics Canada to report on Friday that the annual inflation rate in September maintained August’s pace at 1.1 per cent, with consumer prices inching up 0.1 per cent or 0.2 per cent month-over-month.
“With Canada’s economy chugging along below its speed limit, inflation has been MIA,” said Emanuella Enenajor of CIBC World Markets.
“September’s consumer price report could yet again show broad-based softness in inflationary pressure, with the year-on-year measure set to edge down a tick to 1 per cent.”
Economists expect to see that so-called core rate – which excludes volatile items and helps guide the central bank – come in at 1.3 per cent to 1.4 per cent.
“Energy and food prices are expected to weigh on the headline, with gasoline prices falling modestly,” said Benjamin Reitzes of BMO Nesbitt Burns.
“That suggests core inflation will be somewhat firmer, climbing 0.3 per cent in the month, which would be the biggest gain since February and boost the yearly rate to 1.4 per cent,” he said.
On Wednesday, markets will see how Canada’s factories performed in August. Observers project Statscan will report that manufacturing shipments rose slightly, by 0.2 per cent to 0.4 per cent.
“This follows a solid 1.7-per-cent gain in July and would mark the third increase in four months,” said economists at Toronto-Dominion Bank.Report Typo/Error