Inflation in Canada Hits 2% Target for First Time Since 2021 [Financial Post (Toronto, 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: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Inflation in Canada fell to the slowest yearly pace since February 2021 and core measures continued to ease, keeping the door open for larger interest rate cuts from the Bank of Canada. The consumer price index rose 2% in August from a year ago, following a 2.5% increase a month earlier, Statistics Canada reported Tuesday in Ottawa. That's slower than the median estimate of 2.1% in a Bloomberg survey of economists. On a monthly basis, the index fell 0.2%, versus expectations for a flat reading, and rose 0.1% on a seasonally adjusted basis. The central bank's two core inflation measures decreased, averaging a 2.35% yearly pace, from 2.55% a month earlier, matching expectations. A three-month moving average of those core measures fell to an annualized pace of 2.4% from 2.8% in July, according to Bloomberg calculations. Bond yields fell, pushin
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