Canada: Annual CPI falls to 6.3% in December from 6.8% previous
|- Annual Core CPI in Canada decelerates to 6.3% in December.
- USD/CAD holds around 1.3400 after Canadian inflation figures.
Inflation in Canada, as measured by the Consumer Price Index (CPI), decelerated from 6.8% in November to 6.3% in December, matching consensus estimates. On a monthly basis, the CPI fell by 0.6% as compared to the 0.1% decline expected and the previous month's flat reading.
Additionally, the Bank of Canada's Core CPI, which excludes volatile food and energy prices, fell 0.3% MoM and unexpectedly eased to 5.4% on a yearly basis.
Market reaction
The USD/CAD pair moves little in reaction to the key macro data and remains confined in a narrow trading band, around the 1.3400 round-figure mark.
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