Investing.com – Canadian inflation rose less than forecast in August, according to official data released on Friday.
According to the report from Statistics Canada, consumer price index (CPI) for August increased 0.1% from the previous month, missing forecasts for a 0.2% gain and after a flat reading in July.
Year-on-year, CPI advanced 1.4% last month, lower than expectations for a 1.5% rise and compared to an increase of 1.2% in July.
Core inflation, which excludes food and energy, was unchanged in August, compared to the previous month’s 0.1% decline.
Year-on-year, core CPI advanced 0.9% in August, in line with the prior month’s reading.
The Bank of Canada’s next monetary policy announcement is scheduled for Wednesday, October 25.
After the report, which was released simultaneously with Canadian retail sales, USD/CAD traded at 1.2303, compared to 1.2261 prior to the release.