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- Canada’s annual inflation decelerates in June on lower energy prices
Canada’s annual inflation decelerates in June on lower energy prices
Statistics
Canada reported on Wednesday the country’s consumer price index (CPI) declined
0.2 percent m-o-m in June, following a 0.4 percent m-o-m advance in the previous month.
On the y-o-y
basis, Canada’s inflation rate increased 2.0 percent last month, decelerating from
a 2.4 percent gain in May.
Economists had
predicted inflation would decrease 0.2 percent m-o-m but gain 2.0 percent y-o-y
in June.
According to
the report, prices rose in seven of eight major components in the 12 months to
June. The energy prices (-4.1 percent y-o-y) were the only contributor to the June
slowdown in the headline CPI. Excluding energy, the CPI increased 2.6 percent
y-o-y in June.
Meanwhile, the
closely watched the Bank of Canada's core index rose 2.0 percent y-o-y in June
after gaining 2.1 percent y-o-y in the previous month. Economists had forecast
an advance of 2.6 percent y-o-y.
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