Reuters is reporting that Canadian inflation is at a 40 year high and there are calls for a 0.75 basis point hike in the central bank rate.
Canadian consumer prices increased in May at rates not seen since January 1983, ahead of analyst forecasts, driven by pricey gasoline, official data showed on Wednesday, upping pressure on the central bank to follow the U.S. Federal Reserve with a supersized rate hike.
Reuters
We haven’t updated our US Top Trading Partner inflation graph yet but here it was it looked like last time we updated it.
Canadian inflation will now spike up on the graph and we’ll be updating it as soon as all the data is in from the other nations. It will be interesting to see how inflation will be contained given that it seems like squeezing a balloon from one end to another in this game of inflation whack-a-mole.
Stay tuned and stay solvent…
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