Investing.com – Canadian inflation fell slightly more than forecast in July, according to official data released on Friday.
According to the report from Statistics Canada, June consumer price inflation (CPI) declined 0.2% from the previous month, compared to estimates for a 0.1% drop and June’s 0.2% rise.
Year-on-year, CPI advanced 1.3%, in line with consensus and compared to June’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 June’s number.
Year-on-year, core CPI advanced 2.1%, also in line with estimates and the prior month’s reading.
After the report, which was released simultaneously with retail sales, the loonie weakened. Specifically, USD/CAD traded at 1.2877, compared to 1.2836 prior to the release.