Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
Canada's inflation hits central bank's 2% target in August
Posted on September 20, 2024 |
Canada's inflation reached 2% in August, the first time in over three years, which may lead to future interest rate cuts.
The consumer price index (CPI) increased by 2.0% in August, down from 2.5% in July, slightly lower than expected.
Lower fuel prices, along with decreases in clothing costs and a slowdown in mortgage rate increases, helped ease inflation.
The Bank of Canada's key inflation measures—median and trimmed mean CPI—rose by 2.35%, the slowest rate since April 2021, down from 2.55% in July.
Core inflation, which excludes food and energy, dropped to 2.4% from 2.7% the previous month.
The central bank expects inflation to average 2.3% this quarter and reach its 2% target by late 2025.