Investing.com – Canadian inflation increased in line with expectations in February, according to official data released on Friday.
According to the report from Statistics Canada, consumer price index (CPI) for February increased 0.2% from the previous month, in line with forecasts and after a 0.9% increase in January.
Year-on-year, CPI advanced 2.0% last month, compared to expectations for a 2.1% rise that matched January’s reading.
Core inflation, which excludes food and energy, rose by 0.4% in February, after a previous gain of 0.5%.
Year-on-year, core CPI advanced 1.7% in February, in line with the gain seen the prior month.
The Canadian economy has made good progress since the plunge in oil prices in 2014, but slack and risks remain, a deputy governor of the Bank of Canada (BoC) said Tuesday.
The BoC’s next monetary policy announcement is scheduled for Wednesday, April 12.
After the report, which was released simultaneously with U.S. durable goods orders, USD/CAD traded at 1.3378, compared to 1.3352 prior to the release.