Statistics Canada is expected to release July inflation data this morning.
Economists believe inflation may have already peaked given the recent fall in gas prices, which boosted inflation readings for May and June.
RBC forecast that the annual inflation rate fell to 7.7 percent in July from a near 40-year high of 8.1 percent in June.
Afraid of rising inflation? Interest charges? Here’s what to do
As countries around the world grapple with skyrocketing prices, there are some signs that inflation is slowing, with US inflation set to fall in July.
The Bank of Canada is expected to make its next interest rate announcement on September 7th and is expected to raise lending rates again.
The central bank hopes its rate hikes will bring inflation back to its 2 percent target without triggering a serious economic downturn.
When can we expect our inflation rate to fall?
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https://globalnews.ca/news/9062823/inflation-canada-july-2022/ Statistics Canada announces July inflation rate expected to fall below peak – National