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Canada CPI rises more than expected in June, core inflation in line

Published 2016-07-22, 08:31 a/m
© Reuters. Canadian inflation comes in slightly above forecasts in June
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Investing.com – Canadian inflation rose slightly more than forecast in June, according to official data released on Friday.

According to the report from Statistics Canada, June consumer price inflation (CPI) rose 0.2% from the previous month, below the 0.1% increase expected and below May’s 0.4% rise.

Year-on-year, CPI advanced 1.5%, above forecasts for a gain of 1.4% and compared to May’s reading of 1.5%.

Core inflation, which excludes food and energy, was flat from the previous month, in line with the consensus forecast and below May’s 0.3% increase.

Year-on-year, core CPI advanced 2.1%, above forecasts for a 2.0% rise and compared to May’s reading of 2.1%.

After the report which was released simultaneously with retail sales, USD/CAD traded at 1.3059, compared to 1.3098 prior to the release.

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