- Prior month 3.8%
- CPI MoM 0.1% versus 0.1% expected
- Prior MoM -0.1%
- CPI YoY 3.1% versus 3.2% expected
- BOC Core YoY 2.7% versus 2.8% last month
- BOC core MoM 0.3% versus -0.1% last month
- CPI median 3.6% versus 3.8% last month revised to 3.9%
- CPI trim 3.5% versus 3.7% last month
- CPI common 4.2% versus 4.4% last month
Data is softer than expected but the USDCAD remains lower on the day and trades just above 1.3700.
- The year over year deceleration was largely a result of a lower price for gasoline (-7.8%). Excluding gasoline the CPI rose 3.6% in October (versus 3.7% in September)
- The largest contributors to the year-over-year CPI increase continue to be mortgage interest costs, food purchased from stores and rent
- Month-to-month was driven by travel tours and property taxes and other special charges which are priced annually in October
- grocery prices remain elevated levels but decelerated year on year to 5.4% from 5.8% last month.
- Service prices rise by 4.6% year-over-year which was higher than 3.9% in September. Rents rose 8.2% year on year versus 7.3% in September
- 6 of 8 major components decelerated from the previous month