{"id":37494,"date":"2023-08-15T12:53:20","date_gmt":"2023-08-15T12:53:20","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2023\/08\/15\/canadas-inflation-rate-rises-more-than-expected\/"},"modified":"2023-08-15T12:53:20","modified_gmt":"2023-08-15T12:53:20","slug":"canadas-inflation-rate-rises-more-than-expected","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2023\/08\/15\/canadas-inflation-rate-rises-more-than-expected\/","title":{"rendered":"Canada&#8217;s inflation rate rises more than expected"},"content":{"rendered":"<p> \n<\/p>\n<div id=\"\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>On a monthly basis, the index rose 0.6 per cent, double expectations.<\/p>\n<\/p><\/div>\n<div id=\"\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p>The first re-acceleration since April puts the rate above the Bank of Canada\u2019s target range of one to three per cent.<\/p>\n<p>\u201cThere\u2019s no sense sugar coating this one \u2014 it is not a good report for the Bank of Canada,\u201d wrote BMO chief economist Douglas Porter in a note after the data came out.<\/p>\n<p>\u201cWe still believe that with the recent upswing in the unemployment rate and clear signs of cooler spending that the BoC would prefer to move to the sidelines in September and give prior hikes time to work, but the inflation figures will make it a tougher call.\u201d<\/p>\n<section aria-labelledby=\"moreTopicLabel2769673167422902143443330819686400\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\"> <button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/> <\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li class=\"more-topic__item\" data-carousel-item=\"\">  <picture class=\"more-topic__item-image\"><\/picture>\n<h3 class=\"more-topic__item-text\"> <span class=\"more-topic__item-text-clamp\"> The war on inflation isn&#8217;t over yet, despite what people think <\/span> <\/h3>\n<\/li>\n<li class=\"more-topic__item\" data-carousel-item=\"\">  <picture class=\"more-topic__item-image\"><img decoding=\"async\" alt=\"The Bank of Canada has been exploring whether there\u2019s a case to be made for launching a CBDC (central bank digital currency). \" class=\"lazyload\" src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/08\/canadian-dollar-0814-ph.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=l821rKVcKzQjeI78ED0NTw\" height=\"96\" loading=\"lazy\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/08\/canadian-dollar-0814-ph.jpg?h=96&amp;strip=all&amp;quality=80&amp;sig=l821rKVcKzQjeI78ED0NTw,&#10;                                    https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/08\/canadian-dollar-0814-ph.jpg?h=192&amp;strip=all&amp;quality=80&amp;sig=1L1ZXVR3OrDxPROcnLMC-g 2x,&#10;                                    https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/08\/canadian-dollar-0814-ph.jpg?h=288&amp;strip=all&amp;quality=80&amp;sig=iVexKm3TVG3Ot67v5LYkwg 3x\" width=\"96\"\/><\/picture>\n<h3 class=\"more-topic__item-text\"> <span class=\"more-topic__item-text-clamp\"> Why a Bank of Canada digital loonie would struggle <\/span> <\/h3>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/> <\/section>\n<p>Statistics Canada said the rise in inflation was due to gas prices falling less on an annual basis than they did in June.<\/p>\n<p>Excluding energy prices, the consumer price index decelerated to 4.2 per cent, down from 4.4 per cent in June.<\/p>\n<p>Food prices rose at a slower pace than the month before, up 8.5 per cent from the year before.<\/p>\n<p><em>More to come \u2026<\/em><\/p>\n<\/p><\/div>\n\n<br \/>Canada&#8217;s inflation rate rises more than expected<\/a><br \/>\n<br \/>2023-08-15 12:53:20<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article content On a monthly basis, the index rose 0.6 per cent, double expectations. Article content The first re-acceleration since April puts the rate above the Bank of Canada\u2019s target&#8230;<\/p>\n","protected":false},"author":2,"featured_media":37495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-37494","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/37494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=37494"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/37494\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/37495"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=37494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=37494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=37494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}