Just the kind of number that will keep the Bank of Canada on the sidelines.

  • Prior reading was +1.2% y/y
  • Prices rose 0.3% m/m vs 0.1% expected
  • Core CPI 1.4% vs 1.3% y/y expected
  • Core m/m +0.2% vs +0.1% exp

It’s the highest headline CPI reading since April 2012.

CPI Canada Jan

Canadian CPI y/y