Canada CPI for July 3.7% versus 3.1% last month
Canadian July consumer price index data
- prior 3.1% year on year
- CPI MoM 0.6% vs 0.3% last month. Estimate 0.3%. This was the fastest pace since January 2021
- CPI year on year rose 3.8% versus 3.1% in June
- excluding gasoline CPI increase 2.8% year on year
- Full report
Core measures (YoY)
- Median 2.6% versus 2.4% last month. Estimate 2.4%
- Common 1.7% versus 1.7% last month. Estimate 1.8%
- Trimmed 3.1% versus 2.6% last month. Estimate 2.5%
Stronger than expected inflation data that of Canada.
Prices rose at a faster pace year over year in six of the eight major components in July, with shelter prices contributing the most to the all-items increase. Conversely, prices for clothing and footwear as well as alcoholic beverages, tobacco products and recreational cannabis slowed on a year-over-year basis in July compared with June.
- Homeowners replacing costs index rises at its fastest rate since 1987. It rose 13.8% year-over-year in July. That was the largest yearly increase since October 1987
- gasoline prices rose but at a slower pace. The year on year increase is at 30.9% versus 32.0% last month. July gasoline prices increase 3.5% month over month as OPEC supply remained below pre-pandemic levels though global demand increased