Statistics Canada is expected to release June inflation data on Tuesday morning.
Economists polled by Reuters estimate consumer prices rose 2.8% in June from the same month last year, according to LSEG Data and Analytics.
This would be a slight decrease compared to the 2.9% increase over one year that was observed in May. Statistics Canada had noted that inflation had been driven by the increase in the price of services during this month.
The data released Tuesday morning will represent the last measure of inflation before the Bank of Canada’s next interest rate decision on July 24.
Last month, the central bank began its rate-cutting cycle, choosing to lower its key rate by a quarter point to 4.75%.
Financial data shows that market participants widely expect the Bank of Canada to announce another rate cut next week.
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