Investing.com – Core consumer price inflation in Canada rose less-than-expected in November, official data showed on Tuesday.
In a report, Statistics Canada said that its core consumer price index, which excludes the 8 most volatile items, rose by 0.1% in November, after advancing by 0.3% in October.
Analysts had expected core CPI to rise by 0.2% in November.
Core CPI rose at an annualized rate of 2.1% in November, unchanged from the previous month.
Consumer price inflation including more volatile food and energy costs rose 0.1% in November, below expectations for a 0.3% gain, after rising by 0.2% in the previous month.
Year-on-year, CPI rose at an annualized rate of 2.9% in November.
According to the data, the 12-month change in gasoline prices continued to ease, while the year-over-year increase in food prices remained high.
The increase in November gasoline prices was the smallest year-over-year gain since the beginning of 2011.
Consumers paid 4.8% more for food in the 12 months to November, the largest increase since July 2009.
Following the release of the data, the Canadian dollar held on to gains against its U.S. counterpart, with USD/CAD falling 0.65% to trade at 1.0319.
In a report, Statistics Canada said that its core consumer price index, which excludes the 8 most volatile items, rose by 0.1% in November, after advancing by 0.3% in October.
Analysts had expected core CPI to rise by 0.2% in November.
Core CPI rose at an annualized rate of 2.1% in November, unchanged from the previous month.
Consumer price inflation including more volatile food and energy costs rose 0.1% in November, below expectations for a 0.3% gain, after rising by 0.2% in the previous month.
Year-on-year, CPI rose at an annualized rate of 2.9% in November.
According to the data, the 12-month change in gasoline prices continued to ease, while the year-over-year increase in food prices remained high.
The increase in November gasoline prices was the smallest year-over-year gain since the beginning of 2011.
Consumers paid 4.8% more for food in the 12 months to November, the largest increase since July 2009.
Following the release of the data, the Canadian dollar held on to gains against its U.S. counterpart, with USD/CAD falling 0.65% to trade at 1.0319.