Inflation remains on an upward tear in Canada no matter how one slices it (see tables above). In month-ago terms, this was the fourth consecutive upward surprise to consensus expectations. Furthermore, I just don’t see any clear signs that inflation is decelerating. While inflation landed above consensus broadly in keeping with my estimates, I think the more important considerations lie in the details. I’ll return to what I think are meaningful BoC implications and address Statcan’s plans to include used vehicle prices in the next CPI report and what if anything that means to future inflation and the BoC. The ... (full story)