Investing.com – Canadian inflation increased lesse than expected in March, according to official data released on Friday.
According to the report from Statistics Canada, consumer price index (CPI) for March increased 0.2% from the previous month, compared to forecasts for a 0.4% rise and after a 0.2% increase in February.
Year-on-year, CPI advanced 1.6% last month, compared to expectations for a 1.8% rise and an increase of 2.0% in February.
Core inflation, which excludes food and energy, rose by 0.3% in March, after a previous gain of 0.4%.
Year-on-year, core CPI advanced 1.3% in March, compared to a 1.7% increase in the previous month.
The BoC’s next monetary policy announcement is scheduled for Wednesday, May 24.
After the report, which was released simultaneously with U.S. durable goods orders, USD/CAD traded at 1.3492, compared to 1.3470 prior to the release.