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CPI Edges Above Expectation, Core Back At Y/Y Cycle Highs

CANADA
  • Headline above consensus and at the top end of the analyst range, edging lower from 6.9% to 6.8% Y/Y (cons 6.7%).
  • BoC’s preferred core measures also slightly stronger than expected, led by CPI-median accelerating from an upward revised 4.9% to 5.0% Y/Y (cons 4.9%).
  • CPI-trim being in line at 5.3% meant a rounded average of 5.2% Y/Y, back at its June-July peak having touched 5.0% in Aug-Sep.

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