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Scotiabank Ready To Look Below the Headline In Today's CPI in Canada

BY MT Newswires | ECONOMIC | 07:57 AM EDT

07:57 AM EDT, 05/19/2026 (MT Newswires) -- The Canadian consumer price index for April is released at 8:30 a.m. ET on Tuesday, said Scotiabank.

The bank has estimated a 1% month-over-month non-seasonally adjusted rise, with consensus at 0.7% and with a range from 0.6-1.0%, but the consensus is somewhat "thin." There is a reasonable range from 0.5-1.0%, it added.

Key may be "breadth" and whether the trimmed mean and weighted median CPI gauges continue to build traction in month-over-month seasonally adjusted annual rate terms after a prior soft patch, according to Scotiabank.

The Bank of Canada's hawkish scenario in the April Monetary Policy Report, which was predicated on higher for longer oil prices, is getting a boost from higher for longer oil prices, recalls Scotiabank.

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

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