Investing.com – Canadian inflation unexpectedly fell in August, according to official data released on Friday.
According to the report from Statistics Canada, August consumer price inflation (CPI) dropped 0.2% from the previous month, compared to estimates for a 0.1% gain and July’s 0.2% decline.
Year-on-year, CPI advanced 1.1%, less than the 1.4% forecast and compared to July’s reading of 1.3%.
Core inflation, which excludes food and energy, was unchanged from the previous month, below the consensus forecast for a 0.2% rise and compared to July’s flat reading.
Year-on-year, core CPI advanced 1.8%, below the estimate for a 2.0% increase and the prior month’s reading of 2.1%.
After the report, which was released simultaneously with retail sales, USD/CAD traded at 1.3122, compared to 1.3034 prior to the release.