Investing.com – Canadian inflation rose less than expected in March, according to official data released on Friday.
According to the report from Statistics Canada, March consumer price inflation (CPI) rose 0.6% from the previous month, in line with the consensus forecast and compared to February’s 0.2% rise.
Year-on-year, CPI advanced 1.3%, above expectations for a 1.2% increase and compared to February’s reading of 1.4%.
Core inflation, which excludes food and energy, rose 0.7% from the prior month, compared to the forecast for a 0.3% gain and February’s reading of a 0.5% increase.
Year-on-year, core CPI increased by 2.1%, compared to the forecast for a 1.7% gain and February’s 1.9% increase.
After the report, which was released simultaneously with Canadian retail sales, USD/CAD traded at 1.2668, compared to 1.2728 prior to the release.