Canada: Annual inflation falls more than expected in August to 7% from 7.6%

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  • Retail inflation shows figures lower than expected.
  • Annual rate of the IPC goes from 7.6% in July to 7% in August against the expected 7.3%.
  • Loonie pulls back after data, USD/CAD breaks above 1.3300.

The canada inflation figures for august They were below expectations which would be expected to be welcomed by the Bank of Canada authorities, but not for the loonie who lost ground in the market.

The Consumer’s price index (IPC) fell 0.3% in August, with the market consensus for a 0.1% decline. The annual rate went from 7.6% to 7%, less than the expected 7.3%.

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For its part, Bank of Canada Core CPI it remained unchanged in August, against the expected 0.3% rise. Compared to twelve months ago, this index rose 5.8%, less than the 6% consensus and the 6.1% in July.

The USD/CAD was trading around 1.3285 before the inflation data and climbed towards 1.3320 after weakening moderately after the data.

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Source: Fx Street

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