Canada: Annual CPI drops to -0.2% in April vs. -0.1% expected

Inflation in Canada falls more than expected in April.
USD/CAD continues to trade in negative territory below 1.3900.

Eren Sengezer FXStreet

Inflation in Canada, as measured by the Consumer Price Index (CPI), was -0.2% on a yearly basis in April, the data published by Statistics Canada showed on Wednesday. On a monthly basis, the CPI arrived at -0.7%. Both of these readings were slightly lower than the market expectations.

Meanwhile, the Bank of Canada's (BoC) core CPI, which strips volatile food and energy prices, fell to 1.2% annually from 1.6% in March.

Market reaction

The USD/CAD pair largely ignored these data and was last seen losing 0.35% on the day at 1.3890.

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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