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Canada CPI Stalled In November

CANADA DATA
  • Canada Nov CPI +3.1% YOY, +0.1% MOM, the same as Oct; consensus was +2.9% YOY and -0.1% MOM.
  • Core measures also showed no movement with trim +3.5% and median +3.4%. 
  • Ex food and energy, CPI +0.2% MOM, +3.5% YOY after +3.4% in Oct. 
  • YOY increase led by mortgage interest costs, food, and shelter inflation.
  • Gasoline prices fell -3.5% MOM in Nov compared with Oct -6.4%, putting upward
    pressure on the monthly CPI figure.
  • In a separate report: Nov industrial price product index -0.4% MOM led by energy and petroleum products, -2.3% YOY. 
  • Raw materials -4.2% MOM led by a decrease in crude energy products, -4.6% YOY.

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