Canada January CPI +1.0% vs +0.9% y/y expected

Core measures y/y:

• Median +1.4% vs 1.8% exp (prior 1.8%)
  
• Common +1.3% vs 1.4% exp (prior 1.3%)
  
• Trim +1.8% vs 1.6% exp (prior 1.6%)

It's a mixed picture in this report with the headline higher but core measures mostly lower than anticipated.

The rise was largely due to higher prices for durable goods (+1.7%) and rising gasoline prices (+6.1%) compared with December 2020. Gasoline prices were -3.3% y/y.