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Aug NSA CPI -0.1% m/m, +2.8% y/y, vs....>

CANADA DATA
CANADA DATA: Aug NSA CPI -0.1% m/m, +2.8% y/y, vs 0.0% and 2.8% 
expected, respectively. Gas and air transp still key upward contributors 
to 12-month CPI. CPI ex food, energy 0.0% m/m and +2.3% y/y. Range of 3 
y/y core BOC measures 2.0%-2.2% vs Jul 1.9%-2.1%. All 3 ticked up 0.1 
ppt, challenging BOC's narrative. CPI common (2.0%) and CPI-trim (2.2%) 
highest since Feb'12. SA CPI +0.1% m/m vs Jul +0.5%. 
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Jul ret sales +0.3%, as expected. Ex autos +0.9% vs +0.6% expected. Ex 
gas +0.1%. Ex autos and gas +0.7%. Gains in 8 of 11 subsectors. Real 
sales -0.1% vs Jun -0.2%. 

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