Canada: Annual CPI in August ticked down to 1.9% vs. 2% expected
|- Annual CPI in Canada drops to 1.9% in August from 2%.
- Bank of Canada's core CPI also comes in at 1.9% compared to market consensus of 2%.
- USD/CAD shows a mixed reaction to inflation data.
According to the data published by Statistics Canada on Wednesday, inflation, as measured by the Consumer Price Index (CPI), rose 1.9% on a yearly basis in August following July's 2% reading and fell short of the market expectation of 2%. On a monthly basis, the CPI came in at -0.1% as expected.
Furthermore, the Bank of Canada's core CPI, which strips volatile food and energy prices, arrived at -0.1% and 1.9% on a monthly and yearly basis, respectively, and both readings missed analysts' estimates.
With the initial market reaction, the USD/CAD pair dropped to 1.3240 area but quickly recovered. As of writing, the pair was up 0.1% on the day at 1.3255.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.