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Canada CPI Preview: Gasoline Dwn, Outweighs Gains Elsewhere
A decline in gasoline prices is expected to outweigh gains in other components of the CPI in August, driving down the monthly overall index and slowing the year-over-year increase to 2.0% from 2.1% in July. Instead, the core index, which excludes the impact of volatile components such as gasoline, is expected to accelerate in August and even further in the short term. On the other hand, upward pressure on the CPI year-to-date is expected to diminish as most of the loonie's depreciation was lat year, unless the current weakness lasts. Economists' forecasts in a MNI survey center on a 0.1% decline of the monthly total ... (full story)