RBC forecasts October CPI will ease, setting the stage for December’s Bank of Canada rate call Royal Bank of Canada (RBC) economists are forecasting a slight dip in Canadian inflation for October, with the upcoming data release positioned as the final major read on consumer prices ahead of the Bank of Canada’s (BoC) December interest rate decision. In a research note, Claire Fan, Senior Economist at Royal Bank of Canada in Toronto, and Abbey Xu, Economist at Royal Bank of Canada, project headline Consumer Price Index (CPI) growth to ease modestly to 3% year-over-year, down from 3.1% in September. Energy prices held largely flat between September and October but remained well above year-ago levels.
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