00000nam 2200000za 4500 9.846368 CaOODSP 20250821075101 cr ||||||||||| 171031s2017 oncd ob f000 0 eng d CaOODSP eng eng fre n-cn--- FB3-7/2017-17E-PDF Brouillette, Dany, 1978- Global factors and inflation in Canada [electronic resource] / by Dany Brouillette and Laurence Savoie-Chabot. [Ottawa] : Bank of Canada, c2017. 22 p. : col. charts Staff analytical note = Note analytique du personnel, 2369-9639 ; 2017-17 Cover title. Includes bibliographical references. "This note investigates whether the recent weakness in inflation in Canada can be related to global factors not included in the current staff analytical framework (domestic slack, movements in commodity prices and in the exchange rate). A global common factor for inflation among selected advanced economies appears to contain marginal information for Canadian inflation beyond what is found in movements in commodity prices and the exchange rate. However, our analysis of potential channels (import prices, global slack and the integration in global value chains) does not help to improve our understanding of the recent weakness in inflation. The analysis reinforces our current assessment that the weakness in inflation over recent quarters is mostly due to Canada-specific temporary factors (food and electricity prices). Still, there is a risk that part of the recent unexplained weakness in CPI inflation may not be due exclusively to Canada-specific factors, although the channels through which that global common factor operates remain undetermined. Further work is therefore needed to explore other channels (e.g., digitalization) through which the effect of this common factor might operate"--Abstract, p. 3. Includes abstract in French. gccst Inflation gccst International economics Savoie-Chabot, Laurence. Bank of Canada. Staff analytical note (Bank of Canada) 2369-9639 ; 2017-17 (CaOODSP)9.807323 PDF 459 KB https://publications.gc.ca/collections/collection_2017/banque-bank-canada/FB3-7-2017-17-eng.pdf