Highlights of the March inflation report from Statistics Canada:
- Prior reading was +1.1% y/y
- Core CPI 1.3% vs 1.3% y/y expected
- March CPI +0.6% vs +0.4% m/m exp
- Prior m/m +0.8%
- Core +0.3% m/m, as expected
- Prior core +0.7% m/m
The headline numbers are strong with the y/y change matching the highest since April 2012.
Canadian CPI March
Core numbers were in-line but the market is reacting to stronger headline inflation and USD/CAD is 20 pips lower.
