- Big jump from the 0.7% y/y rate last month but it’s related to the comparison from last year
- In month-over-month terms prices were flat compared to 0.1% exp
- Core m/m -0.2% as expected
- Core y/y 1.3% as expected
This one was right on the screws. Inflation is very tepid in Canada with the monthly increase averaging just 0.05% over the past four months. That will rise in July due to the rally in oil (up to $108.65 now) but the underlying trend is nil.