The slower pace of job creation in 2018 combined with rising consumer borrowing rates will leave consumption providing less of a contribution to growth this year.

June Inflation

A surprise decline in ex-food and energy prices meant that May was the second consecutive soft reading.

Rebound is in store.

With a fall in gasoline, look for headline prices to advance 0.1% NSA, leaving the annual rate accelerating to 2.4% from the 2.2% it has been tracking since April.

That said, the Bank of Canada's core common component measure should remain steady at 1.9% for the fifth straight month.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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