Statistics Canada will release April Consumer Price Index (CPI) data on Tuesday, May 16 at 12:30 and as we get closer to the release time, here are the forecasts by the economists and researchers of five major banks regarding the upcoming Canadian inflation data. Headline CPI is seen declining to 4.1% year-on-year vs. the prior release of 4.3%, while core CPI is seen softening to 3.9%. “We look for CPI to dip 0.1pp to 4.2% in April as prices rise by 0.5% MoM. Gasoline will provide a key driver for the latter, alongside a broad increase for core goods and steady pressure from services. Core inflation measures should ... (full story)