Canada October CPI 3.1% versus 3.2% expected
<figure data-media-><img src="https://images.forexlive.com/images/CPI_id_ab3231f1-a08c-4680-9251-66d175cc5d73_original.jpg" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/CPI_id_ab3231f1-a08c-4680-9251-66d175cc5d73_original.jpg" /><figcaption><div>Canada CPI falls to 3.1% year on year</div></figcaption></figure><ul><li><a href="https://www.forexlive.com/news/canada-september-cpi-38-versus-40-expected-20231017/" target="_blank" rel="follow">Prior</a> month 3.8%</li><li>CPI MoM 0.1% versus 0.1% expected</li><li>Prior MoM -0.1%</li><li>CPI YoY 3.1% versus 3.2% expected</li></ul><p>Core measures:</p><ul><li>BOC Core YoY 2.7% versus 2.8% last month</li><li>BOC core MoM 0.3% versus -0.1% last month</li><li>CPI median 3.6% versus 3.8% last month revised to 3.9%</li><li>CPI trim 3.5% versus 3.7% last month</li><li>CPI common 4.2% versus 4.4% last month<br></li><br></ul><p>Data is softer than expected but the USDCAD remains lower on the day and trades just above 1.3700.</p><ul><li>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)</li><li>The largest contributors to the year-over-year CPI increase continue to be mortgage interest costs, food purchased from stores and rent</li><li>Month-to-month was driven by travel tours and property taxes and other special charges which are priced annually in October</li><li>grocery prices remain elevated levels but decelerated year on year to 5.4% from 5.8% last month.</li><li>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</li><li>6 of 8 major components decelerated from the previous month</li></ul><figure data-media-><img src="https://images.forexlive.com/images/Canada_id_bf5c0b4b-14b8-4fce-9d43-6319dabfca5f_original.jpg" wrapper-="wrapper-" data-src="https://images.forexlive.com/images/Canada_id_bf5c0b4b-14b8-4fce-9d43-6319dabfca5f_original.jpg" /><figcaption><div>Candace CPI had 6 of 8 components a lower in October</div></figcaption></figure><p><br></p>
This article was written by Greg Michalowski at www.forexlive.com.
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