OTTAWA — Statistics Canada is set to release its latest inflation reading today.
The consumer price index for May reflects a month that saw the gradual reopening of businesses that were shut due to the COVID-19 pandemic.
Economists on average expect the consumer price index to remain unchanged compared with a year ago — meaning an inflation rate of zero.
That would compare with a year-over-year decline of 0.2 per cent in April, when energy prices plunged.
The consumer price index measures price changes for a fixed basket of goods and services.
The Bank of Canada looks to the annual pace of inflation as its key target when setting its trend-setting interest rate.
This report by The Canadian Press was first published June 17, 2020.
