Investing.com – Canadian inflation increased less than expected in May, according to official data released on Friday.
According to the report from Statistics Canada, consumer price index (CPI) for May increased 0.1% from the previous month, compared to forecasts for a 0.2% rise and after a 0.4% increase in April.
Year-on-year, CPI advanced 1.3% last month, compared to expectations for a 1.5% rise and an increase of 1.6% in April.
Core inflation, which excludes food and energy, rose by 0.1% in May, after a previous flat reading.
Year-on-year, core CPI advanced 0.9% in May, compared to a 1.1% increase in the previous month.
The BoC’s next monetary policy announcement is scheduled for Wednesday, July 12.
After the report, which was released simultaneously with U.S. durable goods orders, USD/CAD traded at 1.3283, compared to 1.3225 prior to the release.