Chart 10: CPI inflation is expected to fall below 2.5% over the near term https://www.bankofcanada.ca/?p=240807 Total CPI (year-over-year percentage change, left scale) Goods excluding energy and food in stores (right scale) Energy (right scale) Food in stores (right scale) Services excluding shelter (right scale) Shelter services (right scale) 5.131.141.450.750.391.40 5.641.201.550.880.531.48 6.661.571.841.010.611.63 6.781.511.751.130.581.81 7.751.672.291.130.911.75 8.101.762.561.101.051.63 7.641.671.891.141.341.60 6.961.581.301.241.271.57 6.841.710.981.301.241.61 6.871.691.151.251.131.65 6.851.601.001.301.221.73 6.261.550.551.261.201.70 5.871.420.421.301.021.71 5.301.40-0.011.191.071.65 4.341.18-0.511.081.111.48 4.401.25-0.311.021.011.43 3.321.00-1.000.990.891.44 2.820.88-1.191.000.671.46 3.250.76-0.630.940.671.51 4.000.900.120.780.551.67 3.800.710.370.650.401.68 3.100.53-0.390.610.561.82 3.100.59-0.420.520.611.79 3.400.66-0.030.530.411.82 2.870.46-0.180.380.401.81 2.770.250.070.270.361.82 2.870.110.190.210.511.85 2.680.020.300.150.461.75 2.880.020.260.170.671.76 2.68-0.120.030.230.791.75 2.53-0.080.030.240.641.69 2.21-0.11-0.210.210.701.60 2.210.02-0.150.150.671.52 2.460.150.130.160.521.51 2.390.020.210.190.501.48 2.40-0.070.210.190.641.43