Canada October inflation data
- Prior was +0.5%
- CPI +0.4% m/m vs +0.2% exp
- Prior month -0.1% m/m
- CPI ex-gasoline +1.0% y/y
Core measures:
- Median 1.9% vs 1.9% exp (prior 1.9%)
- Common 1.6% vs 1.5% exp (prior 1.5%)
- Trim 1.8% vs 1.8% exp (prior 1.8%)
Food prices were a driver for the gain with vegetable prices +9.5% y/y. One drag is mortgage interest costs, which fell 0.7% m/m on lower rates. Meanwhile the homeowners' replacement cost index, which is derived from the price of new homes, rose 1.4% month over month, the largest monthly increase since June 1991.
