- Previous month 2.9%
- Consumer Price Index (CPI) monthly: 0.5% vs. 0.6% estimate
Basic measures
- Bank of Canada Core Consumer Price Index (CPI) YoY +1.6% vs. 2.0% previously
- Bank of Canada Consumer Price Index (CPI) monthly core at 0.2% versus 0.5% previously
- Core CPI rose monthly YoY by 0.0% versus 0.1% previously (revised to 0.2%).
- Trim 2.9% vs. 3.2% previously (expected at 3.1%)
- Average 2.6% vs. 2.9% previously (revised from 2.8%)
- Subscriber: 2.6% compared to 2.9% previously
- Full report click here
From Statistics Canada:
The Consumer Price Index (CPI) rose 2.7% year-on-year in April, down from its 2.9% gain in March. The broad-based slowdown in the headline CPI was driven by prices of food, services and durable goods.
The slowdown in the CPI was mitigated by gasoline prices, which rose faster in April (+6.1%) than in March (+4.5%). Excluding gasoline, the CPI for all items slowed to a 2.5% increase year-on-year, down from a 2.8% gain in March.
On a monthly basis, the CPI rose 0.5% in April, mainly driven by gasoline prices. On a seasonally adjusted monthly basis, the CPI rose 0.2% in April.
Gasoline is having a big impact again, but the big gains made last year are still trending to the downside. .
USDCAD rose on the news and returned above its 200-hour moving average at 1.3646. It is currently trading at new highs of 1.36558.
This article was written by Greg Michalowski at www.forexlive.com.
