(Ottawa) Statistics Canada is due to release its most recent inflation data on Tuesday morning, with the unveiling of the consumer price index in May.
Economists expect a slight slowdown in inflation last month in the country, which would be another good sign for the Bank of Canada.
The central bank, encouraged by slowing inflation, cut its key interest rate by a quarter of a percentage point earlier this month.
The annual inflation rate in Canada was 2.7% in April.
Economists say inflation data from May and June will play a key role in the central bank’s next interest rate decision, scheduled for July.
Bank of Canada Governor Tiff Macklem has maintained that the central bank plans to make its rate decisions one by one.