Canada: Annual CPI declines to 6.8% in November vs. 6.7% expected

Annual Core CPI in Canada stayed unchanged at 5.8% in November.
USD/CAD holds above 1.3600 after Canadian inflation figures.

Eren Sengezer FXStreet

Inflation in Canada, as measured by the Consumer Price Index (CPI), declined to 6.8% in November from 6.9% in October. This reading came in slightly higher than the market expectation of 6.7%. On a monthly basis, the CPI rose by 0.1%.

Additionally, the Bank of Canada's Core CPI, which excludes volatile food and energy prices, stayed unchanged at 5.8% on a yearly basis.

Market reaction

The USD/CAD pair showed no immediate reaction to these data and was last seen trading modestly higher on the day at 1.3617.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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