Canada January CPI 1.4% vs 1.4% y/y expected

Canadian January CPI

• Prior was +2.0%
• CPI +0.1% m/m vs +0.1% exp
• Prior m/m -0.1%
• CPI common +1.9% vs +1.9% y/y exp
• CPI core +1.8% vs +1.8% y/y exp
• CPI trim +1.9% vs +1.9% y/y exp

These numbers were entirely in-line with expectations and the fall in y/y inflation along with flattish m/m numbers is a sign that the BOC has plenty of time to evaluate what to do next in monetary policy.