📊Canada Inflation Closing Gap to BoC's Target Band: Cable FX Macro

**As seen in G10 Inflation Dashboard, subscribe at cablefxm.co.uk/reports

• The G10 inflation monitor is updated with the latest consumer price data, the recent changes for October have left Canada closer to the BoC's target band as prices advance 3.1% Y/y

• Canadian consumer prices in October have shown improvement as the metric compares to 6.8% a year ago. Economists' estimates pencil 2023 inflation rising by 3.9%

• We have also seen a sharp decline in U.K. CPI, the last data point saw a 210bps drop to 4.6% Y/y. Despite the easing, the U.K. remains the second-highest inflation overshoot in the G10

• Our calculations of inflation impulse saw further negative prints in October