Canadians probably won't see a rate cut in July.
Why?
Because May's CPI was 2.9% vs. the expected 2.6%, mainly due to high rent inflation. Without rent inflation, May's CPI would have been 2.4%.
Among Canada, USA, UK and Australia
- Canada had the lowest rent inflation from 2014 to 2017.
- Now, it has the highest rent inflation at 8.9%.
This indicates that local factors, such as significant population growth in Canada, have had an adverse impact on rent inflation.
Follow us on social media for more posts
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.