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Canada: Focus on CPI this week – NBF

According to analysts at National Bank Financial, for the Canadian markets, a lot of attention this week will be on April’s consumer price index.

Key Quotes

“A surge in gasoline prices during the month should translate into a 0.4% rise of the headline index (m/m, not seasonally adjusted). This would allow the annual inflation rate to rise one tick to 2.0%.”

“We expect the annual rate of CPI-common to remain unchanged at 1.8%. If the healthy increase factory goods exports is any guide, manufacturing shipments may have advanced at a decent clip in March.”

“Information on the state of the housing market in April will also be available with the release of the Teranet-National Bank Composite Home Price Index and existing home sales.”

“Also worthy of note, the Bank of Canada will publish the latest edition of its Financial System Review on Thursday.”

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