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July CPI +2.0% y/y, beating expected....>

CANADA DATA: July CPI +2.0% y/y, beating expected +1.7%
- July CPI +0.4% m/m sa (+0.5% nsa) vs MNI Median +0.2%
- Broad-based price gain, rising y/y in all 8 components
- Services index slowed to +2.4% y/y from +2.8% prior
- Goods prices increased +1.3% y/y vs +0.9% prior
- Gas prices +3.3% m/m but still lower than a year earlier
- Gas prices -6.9% in July vs -9.2% prior
- July gas prices gained as US refinery closed, reducing supply
- Average of Bank of Canada core measures +2.0% y/y
- CPI Common +1.9% y/y, Median +2.1% y/y, Trim +2.1 y/y%

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