In Canada, a lot of attention will be on October’s inflation numbers. Given the record low unemployment rate in service-producing industries (hence rising wage pressure), we expect a reversal of the downward trend in service CPI inflation. As a result, headline price could have increased 0.1% m/m (not seasonally adjusted) but, due to the base effect, that may still translate into a small drop in the annual inflation rate to 1.4%. Meanwhile, CPI-common may have gained one tick to 1.6%, in line with recent economic momentum.
For a detailed perspective on current inflation expectations enjoy the detailed perspective from National Bank Financial Group Economics https://www.nbc.ca/content/dam/bnc/en/rates-and-analysis/economic-analysis/weekly-economic-watch.pdf