July 16, 2024 12:30 GMT
Canada June CPI Slows More Than Expected Before July Rate Meet
CANADA DATA
- Canada CPI slowed more than expected in June with YOY +2.7% vs forecast +2.8%, and -0.1% MOM vs forecast +0.1%.
- BoC preferred core median CPI +2.6% in June, the same rate as April, which was the lowest since June 2021. Core trim CPI was unchanged from May at +2.9%.
- The YOY headline deceleration was led by slower gasoline prices. Prices +0.4% YOY in June after +5.6% in May; excluding gasoline CPI was +2.8%.
- Durable goods prices -1.8% YOY, the fourth consecutive decrease for this category.
- Q2 average CPI +2.8%, which is below the BoC projection for +2.9%.
- The June release is the last CPI report and major release before the next interest-rate decision on the 24th of July.
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