Statistics Canada to release July inflation report this morning

OTTAWA — Statistics Canada is set to release its consumer price index (CPI) report for July this morning.

Annual inflation is expected to have eased to 1.8 per cent in July, down from 1.9 per cent in June, according to a survey of economists conducted by LSEG Data & Analytics.

Economists expect the report to provide a clearer picture of the impact of tariffs on the economy and better define the inflation trajectory.

The Bank of Canada is focusing specifically on core inflation measures, which exclude volatile items from its calculations, as they remain higher than expected.

A summary of the central bank’s recent decision-making from its July 30 meeting shows that bank members believe the impact of tariffs on consumer prices has been limited so far.

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