Inflation is at the forefront of everyone’s minds these days. Canada released their CPI data for May earlier. The headline print came out as expected at 3.6% YoY vs 3.4% for April. However, the Core CPI was stronger than expectations, at 2.8% vs 2.5% expected and 2.3% for April. Recall that at the Bank of Canada left their bond purchasing program unchanged last week at C$3 billion per week. Today’s report confirms what we already knew: inflation is high while employment is low. The last 2 Employment Change releases for Canada were both worse than expected. However, with June’s payroll data to be released before the ... (full story)