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- Canada’s annual inflation decelerates slightly more than expected in June
Canada’s annual inflation decelerates slightly more than expected in June
Statistics
Canada reported on Wednesday the country’s consumer price index (CPI) rose 0.3
percent m-o-m in June, following a 0.5 percent m-o-m advance in the previous
month.
On
the y-o-y basis, Canada’s inflation rate increased 3.1 percent last month,
decelerating from 3.6 percent in May. This was the lowest rate in three months.
Economists
had predicted inflation would increase 0.4 m-o-m and 3.2 percent y-o-y in
June.
According
to the report, prices rose at a slower pace in four of the eight major
components on a y-o-y basis in June, with clothing and footwear component recording
the largest deceleration (+1.1 percent y-o-y in June vs. +3.9 percent y-o-y in
May), reflecting a decline in prices for women's clothing.
Meanwhile, the closely watched the Bank of
Canada's core index rose 2.7 percent y-o-y in June, following a 2.8 percent
y-o-y climb in May.
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