Economists surveyed by Bloomberg are looking for a non-seasonally adjusted increase of 0.6% MoM, which should translate into a seasonally adjusted increase of around 0.26%. 

If today's figures confirm the ongoing inflationary risks, the market may push back its rate cut expectations a bit. This would certainly be positive for the CAD.

However, it should also be noted that the Bloomberg consensus is currently subject to considerable uncertainty. The number of participants in the survey for Canadian inflation data has fallen significantly in recent years. And even last month, the survey was expecting a solid increase, and in the end, prices actually fell. This is something to keep in mind for today.