Investing.com – Canadian inflation dropped as expected in June, according to official data released on Friday.
According to the report from Statistics Canada, consumer price index (CPI) for June decreased 0.1% from the previous month, in line with forecasts and after a 0.1% increase in May.
Year-on-year, CPI advanced 1.0% last month, in line with expectations and compared to an increase of 1.3% in June.
Core inflation, which excludes food and energy, rose by 0.1% in June, after a similar advance the prior month.
Year-on-year, core CPI advanced 0.9% in June, also matching the increase in the previous month.
The BoC’s next monetary policy announcement is scheduled for Wednesday, September 6.
After the report, which was released simultaneously with Canadian retail sales for May, USD/CAD traded at 1.2559, compared to 1.2603 prior to the release.