Investing.com – Canadian inflation increased as expected in October, though the annual increase in the core reading slipped unexpectedly, according to official data released on Friday.
According to the report from Statistics Canada, consumer price index (CPI) for October gained 0.2% from the previous month, in line with estimates and slightly higher than September’s 0.1% increase.
Year-on-year, CPI advanced 1.5% last month, also in line with forecasts and compared to September’s reading of a 1.3% gain.
Core inflation, which excludes food and energy, rose by 0.2% in October, in line with expectations and the gain registered the prior month.
Year-on-year, core CPI advanced 1.7% in October. Consensus had expected no change to September’s reading of a 1.8% rise.
After the report, USD/CAD traded at 1.3502, compared to 1.3510 prior to the release