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  • Annual Core CPI in Canada fell short of market expectation in August.
  • USD/CAD continues to trade with small losses below 1.3200.

Inflation in Canada, as measured by the Consumer Price Index (CPI), stayed unchanged at 0.1% on a yearly basis in August, the data published by Statistics Canada revealed on Wednesday. This reading came in lower than the market expectation of 0.4%. On a monthly basis, the CPI dropped to -0.1% from 0% in July.

Meanwhile, the Bank of Canada’s Core CPI, which excludes volatile food and energy prices, edged higher to 0.8% annually but missed analysts’ estimate of 0.9%.

Market reaction

The USD/CAD pair’s reaction to these figures was largely muted and it was last seen losing 0.05% on the day at 1.3175.