Investing.com – Canadian inflation rose slightly below with forecasts in May, according to official data released on Friday.
According to the report from Statistics Canada, May consumer price inflation (CPI) rose 0.4% from the previous month, below the 0.5% increase expected and above April’s 0.3% rise.
Year-on-year, CPI advanced 1.5%, also below forecasts for a gain of 1.6% and compared to April’s reading of 1.7%.
Core inflation, which excludes food and energy, rose 0.3% from the previous month, in line with the consensus forecast and above April’s 0.2% rise.
Year-on-year, core CPI advanced 2.1%, in line with expectations and compared to April’s reading of 2.2%.
After the report, which was released simultaneously with U.S. housing data, USD/CAD traded at 1.2887, compared to 1.2876 prior to the release.