MNI DATA IMPACT: Canada April CPI +2.0% Y/Y; +0.3% SA M/M

By Courtney Tower

     WASHINGTON (MNI) - The following are the key points from the April data on

Canadian CPI released Wednesday by Statistics Canada.

     - Total CPI rose 0.4% on the month when analysts surveyed by MNI had

expected an increase of 0.5%. Headline CPI year-over-year was +2.0%, up one

notch from +1.9% in March.

     - The Bank of Canada April core, NSA, was flat, the first no-growth level

since December of 2018. The year-over-year BOC core was +1.5% versus +2.4% the

previous month. The seasonally adjusted BOC core was +0.2% versus March +0.1%.

For the Bank of Canada's three preferred measures of core inflation, CPI-trim

came in at 2.0% and CPI-median at 1.9%, both below the 2.1% for each recorded in

March. CPI-common was unchanged at 1.8%.

     - Gasoline prices increased 10.0% on the month. Excluding gasoline, the CPI

rose +2.3% year-over-year.

     - Year over year, the main upward contributor to the CPI was mortgage

interest costs (+8.2%) and the main downward contributor was traveller

accommodation (-9.6%). Month-over-month, NSA,the main upward contributor was

gasoline (+10.0%) and the main downward contributor was travel tours (-7.9%).

     - Overall, seven of the eight major components were up in April, the one

very slight decline being household operations,furnishings and equipment.

Seasonally adjusted, month-over-month, the CPI rose +0.3% following a +0.4% rise

in March.

--MNI Ottawa Bureau; tel: +1 202-371-2121; email: dcoffice@marketnews.com

[TOPICS: MACDS$,M$C$$$]