Second Month of Deflation Since 2009
Ottawa, ON, June 17, 2020 (GLOBE NEWSWIRE) -- Ottawa, June 17, 2020The Conference Board of Canadas Economist Anna Feng offers the following insights on today's Consumer Price Index (CPI) data:
- Ottawa, ON, June 17, 2020 (GLOBE NEWSWIRE) -- Ottawa, June 17, 2020The Conference Board of Canadas Economist Anna Feng offers the following insights on today's Consumer Price Index (CPI) data:
Consumer prices were off their year ago level (-0.4 per cent) again in May, recording the second month of deflation since 2009. - Depressed oil prices combined with suppressed household demand for discretionary spending contributed to Mays deflation.
- This is the second month of negative price growth since 2009.
- The average of the three core inflation measures sat at 1.7 per cent last month, 0.3 per cent below the Banks 2.0 per cent target.