Canada CPI yy
  • Prior was +1.4%
  • CPI y/y 6.8% vs 6.7% expected
  • Prior y/y reading was +6.7%
  • Gasoline prices vs +39.8% m/m prior

Core measures y/y:

  • Median 4.4% vs 3.8% prior
  • Trim 5.1% vs 4.7% prior
  • Common 3.2% vs 2.9% expected (prior was 2.8%)
  • BOC core 5.7% vs 5.4% expected (prior was 5.5%)
  • BOC core +0.7% m/m vs +0.4% expected

This is another terrible read on  inflation  . Globally it's the same story all over and it's getting worse, not better. Powell yesterday said they will continue to hike until something breaks. In Canada, the 'something' will be the housing market.