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Classified in: Covid-19 virus
Subjects: POLITICS, GOVERNMENT CONTRACTS, MISCELLANEOUS, MISCELLANEOUS, ECONOMIC NEWS/TRENDS/ANALYSIS

Second Month of Deflation Since 2009


Ottawa, ON, June 17, 2020 (GLOBE NEWSWIRE) -- Ottawa, June 17, 2020?The Conference Board of Canada's 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. The Bank of Canada's preferred measure of core inflation decelerated to just 1.4 per cent, well below the Bank's 2.0 per cent target. Depressed oil prices combined with suppressed household demand for discretionary spending contributed to May's deflation. As such, we expect that inflation will continue falling behind the Bank's 2.0 per cent target for the rest of 2020."

 

Insights:

 

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Content Attribution:

Anna Feng

Economist

The Conference Board of Canada

 

FOR INTERVIEW REQUESTS:

Michelle Rozon 

E-mail: [email protected]

 

 

 


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