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(CEP News) - All eyes will be on Canada on Friday with the release of October's inflation data.
The general consensus estimate is for Canadian CPI to fall 0.6% month-over-month in October following a 0.1% rise in September. Annualized core inflation is expected to rise 1.9% following a 1.7% rise in September. The monthly core data is expected to be flat following a 0.4% rise in September. TD Economics strategist Millan Mulraine expects falling commodity prices and a slackening economy to bring CPI down. "For October, given that gasoline and natural gas prices have declined by double-digits and wage pressures appear to be abating, we expect consumer prices to ease further with headline CPI falling by a dramatic 0.4% M/M." This will bring the annual rate of consumer price inflation to 3.3% Y/Y," Mulraine wrote. Also on Friday, there will be several speeches as Richmond Fed President Jeffrey Lacker and Philly Fed President Charles Plosser, are expected to weigh in on current financial conditions. Chicago Fed President Charles Evans will address economists in Indianapolis. All Times in EST: 7:00 CA Consumer Price Index (M/M) October Exp: -0.6% Prior: +0.1% 7:00 CA Consumer Price Index (Y/Y) October Exp: +3.1% Prior: +3.4% 7:00 CA Bank Canada CPI Core (M/M) October Exp: 0.0% Prior: +0.4% 7:00 CA Bank Canada CPI Core (Y/Y) October Exp: +1.9% Prior: +1.7% 8:15 US Richmond Fed President Jeffrey Lacker speaks on financial conditions at an event in Maryland 12:15 US Philly Fed President Charles Plosser speaks on the financial crisis at an event in Philadelphia 12:40 US Chicago Fed President Charles Evans speaks to economists at an event in Indianapolis By Steve Stecyk,
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, edited by Sarah Sussman,
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