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Tuesday's CPI Report Matters to The Bank of Canada, Says Scotiabank

BY MT Newswires | ECONOMIC | 06/24/25 08:17 AM EDT

08:17 AM EDT, 06/24/2025 (MT Newswires) -- Canada will release consumer price index data for May at 8:30 a.m. ET on Tuesday, noted Scotiabank.

CPI for May is expected to rise by several tenths in month-over-month non-seasonally adjusted (NSA) fashion, but key will be the Bank of Canada's preferred core measures, said Scotiabank.

The bank wouldn't be surprised to see volatility drive a softer reading after the 4.5% month-over-month seasonally adjusted annual rate (SAAR) increases in trimmed mean and weighted median CPI the prior month, but this month brings added complications.

It's one of two CPI reports before the next BoC decision plus other data on jobs and GDP and the 30-day deadline for a possible Canada-United States agreement on trade and security, pointed out Scotiabank.

Canada has been in a prolonged state of high core inflation readings dating back over the past year with no signs that the BoC has contained inflationary pressures to date, let alone addressed forward-looking risks, added the bank.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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