Canada: Annual CPI ticks up to 1.5% in February vs 1.4% expected

Eren Sengezer FXStreet

The data published by Statistics Canada today revealed that inflation, as measured by the consumer price index (CPI), rose 1.5% on a yearly basis in February to surpass the market expectation of 1.4%. On a monthly basis, the CPI increased 0.7% vs 0.6% expected.

Key takeaways from the press release

Excluding gasoline, the CPI rose 2.1%, matching the gain in January.
Energy prices were 5.7% lower compared with February 2018, following a larger decline the previous month.
On a seasonally adjusted monthly basis, the CPI rose 0.3% in February, following a 0.1% decline in January.

Meanwhile, the Bank of Canada's core CPI rose to 0.7% and 1.5% in February on a monthly and yearly basis, respectively, with both figures coming in above the experts' forecasts.

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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