- CPI in Canada stayed unchanged on a monthly basis in July.
- Annual CPI slumped to 0.1% and missed analysts’ estimate of 0.5%.
- USD/CAD continues to trade with modest losses near mid-1.3100s.
Inflation in Canada, as measured by the Consumer Price Index (CPI), rose 0.1% on a yearly basis in July, the data published by Statistics Canada showed on Wednesday. This reading followed June’s print of 0.7% and came in lower than the market expectation of 0.5%. On a monthly basis, the CPI was unchanged.
Meanwhile, the Bank of Canada’s (BoC) core CPI, which excludes volatile food and energy prices, edged lower to 0.7% from 1.1% in June.
Market reaction
These figures don’t seem to be having a significant impact on the CAD’s performance against its rivals. As of writing, the USD/CAD pair was down 0.13% on a daily basis at 1.3150.
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