The Day Ahead U.S. and Canada: U.S. and Canadian Inflation

(CEP News) - Inflation reports will be the main market focus on Friday, as Canada and the U.S. take a look at January consumer prices.

Core inflation in the United States is expected to rise 0.1% month-over-month, against a flat reading in December. Headline inflation is expected to grow 0.3%.

Economists at Desjardins said headline inflation is expected to grow on the back of an increase in gas prices in January, with prices rising from a low of $1.59 a gallon over the holidays to up to $1.90 this week.

In Canada, core inflation is expected to fall by 0.1% month-over-month against a 0.4% drop in December.

Canadian headline inflation is expected to fall 0.2%.

Millan Mulraine, economist at TD Securities, said “growing economic slack and soft commodity prices will continue to play their part in pushing Canadian consumer price inflation lower.”

All times in EST:

7:00 CA Consumer Price Index (M/M) January Exp: -0.2% Prior: -0.7%

7:00 CA Consumer Price Index (Y/Y) January Exp: +1.2% Prior: +1.2%

7:00 CA Bank Canada CPI Core (M/M) January Exp: -0.1% Prior: -0.4%

7:00 CA Bank Canada CPI Core (Y/Y) January Exp: +2.2% Prior: +2.4%

8:30 US Consumer Price Index (M/M) January Exp: +0.3% Prior: -0.8%

8:30 US CPI Ex Food & Energy (M/M) January Exp: +0.1% Prior: +0.0%

8:30 US Consumer Price Index (Y/Y) January Exp: -0.1% Prior: +0.1%

8:30 US CPI Ex Food & Energy (Y/Y) January Exp: +1.5% Prior: +1.8%

8:30 US Consumer Price Index NSA January Exp: +211.081 Prior: +210.228

14:30 US CPI Core Index SA January Prior: +216.816

By Megan Ainscow, mainscow@economicnews.ca, edited by Sarah Sussman, ssussman@economicnews.ca

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Posted in Categories: Canada, Economy, Releases, USA.

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