• Notes from the Desk | Just Not Cool Enough

Notes from the Desk | Just Not Cool Enough Oct 19 2022

Inflation Frustration – Just Not Cool Enough

  • Headline CPI increased 0.1% in September with the annual rate easing 0.1% to 6.9% (versus consensus 6.7%)
  • CPI excluding food and energy rose 0.4% (seasonally adjusted)
  • The core data was unchanged with CPI-trim at 5.2% and CPI-median at 4.7%

Implications.

Inflation is proving stickier than hoped and this sets up the Bank of Canada to hike 50 or 75 bps, with the probabilities now tilting in favour of 75 bps.

 

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