The Financial Post reports in its Wednesday, April 17, edition that the latest consumer price index data meet the Bank of Canada's requirement for core inflation, Andrew Grantham, an economist at Canadian Imperial Bank of Commerce, says in a note. The Post's Gigi Suhanic writes that CPI core trim and median — the central bank's two preferred measures of inflation -- slowed to 3.1 per cent and 2.8 per cent, more than analysts surveyed by Bloomberg expected. BOC officials said in their April 10 interest rate decision that they would need to see continued evidence that core inflation was sustainably slowing before they would consider a first rate cut. Mr. Grantham says: "Today's data meets that requirement, although there is one more CPI print to come before the bank's next policy decision. We continue to expect a first cut at that June meeting." Desjardins director Royce Mendes says: "This type of release was exactly what the BOC was looking for. As a result, we are retaining our call for a rate cut in June." Some economists worry that increased spending by Ottawa could feed inflation.