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Monthly Core CPI Inflation Resumes Softer Trend

CANADA DATA
  • CPI very much in line with consensus, with headline unchanged at 6.9% Y/Y and the average of the median and trim measures rising a tenth to 5.05% Y/Y.
  • Fade the common measure, unchanged at 6.2% Y/Y (cons 5.9) after yet more upward revisions due to its unreliability.
  • CPI ex food & energy dips a tenth to 5.34% Y/Y, where it’s averaged for six months now. In M/M SA terms it dipped from 0.42% to 0.21% M/M, roughly the softest since Oct/Nov’21.

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