The good for the cad but not strong enough to withstand dollar bulls.
Consumer Price Index, October 2023
In October, the Consumer Price Index (CPI) rose 3.1% on a year-over-year basis, down from a 3.8% gain in September. The year-over-year deceleration was largely a result of lower prices for gasoline (-7.8%) in October. Excluding gasoline, the CPI rose 3.6% in October, following a 3.7% increase in September. While prices for goods (+1.6%) decelerated, led by lower prices at the pump, prices for services (+4.6%) rose at a faster pace in October, largely driven by higher prices for travel tours, rent and property taxes and other special charges. The largest contributors to the year-over-year CPI increase continued to be ... (full story)
Added at 8:42am
Canada annual CPI inflation softens to 3.1% in October vs. 3.2% expected
Inflation in Canada, as measured by the change in the Consumer Price Index (CPI), softened to 3.1% on a yearly basis in October from 3.8% in September. This reading came in below the market expectation of 3.2%. On a monthly basis, the CPI rose 0.1%, matching analysts' estimate. "The year-over-year deceleration was largely a result of lower prices for gasoline (-7.8%) in October," Statistics Canada noted in the press release. "Excluding gasoline, the CPI rose 3.6% in October, following a 3.7% increase in September." Moreover, the Bank of Canada reported that the monthly Core CPI, which excludes volatile food and ... (full story)
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