National Bank Previews This Week's Macroeconomic Data in Canada

12:01 PM EDT, 07/14/2025 (MT Newswires) -- The publication of the June consumer price index report on Tuesday will be the highlight of the week in Canada, said National Bank of Canada.

Gasoline prices fell during the month, which may have limited headline price growth to 0.1% month over month, noted the bank. If this scenario materializes, the annual inflation rate could rise by two-tenths of a percentage point to 1.9%.

Looking at the Bank of Canada's core measures, CPI-trim may have remained stable at 3.0% on an annual basis, while the median CPI may have fallen by one-tenth to 2.9%, stated National Bank.

An update on the housing market will also be provided in Canada on Tuesday with the release of housing starts data for June. Judging by the residential permits data released so far, the latter may have eased back to 265,000 in the month (seasonally adjusted and annualized), led by a decrease in the multifamily segment, according to the bank.

Meanwhile, also on Tuesday existing home sales could have increased by 4.8% month over month in June, as gains in Toronto, Vancouver, and Montreal were likely only partially offset by a decline in Calgary, added National Bank.

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