The CPI in Canada recorded a growth of about 7% in August on an annual basis, according to figures released moments ago, compared to 7.6% in the July reading, which came less than expectations, which indicated a rise to 8%, recording a decline for the second month in a row, supported largely by the decline in gasoline prices.
In August, it decreased by 9.6%, the largest monthly decline since April 2020. On a monthly basis, the index declined by -0.3% in August, after a growth of about 0.1% in July, to come less than market expectations, which indicated a growth of 0.9% in the largest monthly decline since the first months of the epidemic.
In details, transportation prices increased by 10.3% and shelter by 6.6%, while gasoline prices decreased by 9.6% on a monthly basis.
The Canadian dollar is trading at 1.3317 levels, down against the US dollar by more than 50 pips since the opening of the European markets.
02/11/2024
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