Canada CPI Preview
Canada CPI Preview: Analysts expect the CPI to expand 0.6% in April versus March after the 0.2% m/m gain in March. Gasoline prices were stronger, shooting 7% higher in April compared to March (average monthly basis). Total CPI is seen accelerating to a 1.8% y/y pace in April from the 1.6% pace in March. The trimmed mean CPI slowed to a 1.4% y/y pace in March from 1.5%. The CPI common grew at a 1.3% y/y rate in March, matching the 1.3% clip in February. The CPI median grew 1.7% y/y following the a 1.8% rate in February. The moderation in CPI-trim and CPI-median and stability in the growth rate for CPI-common provides backing for the BoC's view that "material excess capacity remains" in Canada's economy despite the recent strength GDP.