‘Painful’ interest rate hikes are working, but nothing to ‘celebrate,’ as Liberals find political ‘cover’ but not ‘relief’: observers

A full-point drop in headline inflation puts the government on a ‘good trajectory,’ but the ‘last mile’ will be the ‘toughest,’ says former Liberal staffer Elliot Hughes.

The Liberal government of Prime Minister Justin Trudeau, left, may gain some 'political cover' from a drop in headline inflation, but cost of living remains an issue on which Conservative Leader Pierre Poilievre can attack the government, say observers.The Hill Times photographs by Andrew Meade

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BY IAN CAMPBELL

July 3, 2023

The latest Consumer Price Index report—which saw headline inflation drop while key cost-of-living indicators continued to soar—provides some “political cover” for the government, but does not yet deliver “political relief,” says pollster Nik Nanos.

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