Canadian inflation data for June 2019:
- Prior was +2.4% y/y (a seven-month high)
- Month-over-month at -0.2% vs -0.3% expected
- Prior m/m +0.4%
- Ex energy +2.6% y/y
- Food +3.5% y/y (vegetables +17.3% y/y)
Core measures:
- Median 2.2% vs 2.1% exp (prior 2.1% revised to 2.2%)
- Common 1.8% vs 1.8% exp (prior 1.8%)
- Trim 2.1% vs 2.2% exp (prior 2.3%)
I don't see anything in the headlines that's going to grab the BOC's attention. These are decently high numbers considering that energy prices were down 4.1% y/y in June with gasoline prices -9.2%.
StatsCan highlighted rising insurance premiums for homes (+6.3%) and vehicles (+8.8%), in part due to weather-related events.
