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- Canada’s inflation slows in August
Canada’s inflation slows in August
Statistics
Canada reported on Wednesday the country’s consumer price index (CPI) edged
down 0.1 percent m-o-m in August, following a 0.5 percent m-o-m advance in the
previous month.
On the y-o-y
basis, Canada’s inflation rate increased 1.9 percent last month after a 2.0
percent increase in July.
Economists had
predicted inflation would decrease 0.1 percent m-o-m but gain 2.0 percent y-o-y
in August.
According to
the report, the slowdown in headline inflation was primarily due to lower
gasoline prices (-10.2 percent y-o-y). Excluding gasoline, the CPI rose 2.4
percent y-o-y, matching the gain in July.
Meanwhile, the
closely watched the Bank of Canada's core index rose 1.9 percent y-o-y in August,
decelerating from 2.0 percent in the previous month. Economists had forecast an
advance of 2.2 percent y-o-y.
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