He Canada's Consumer Price Index (CPI) stood at 2.8% annually in February, below the 2.9% in January, as published by the Canadian Bureau of Statistics. Inflation improves the 3.1% expected by the market and is at its lowest level in eight months.
At a monthly level, the CPI has grown by 0.3% compared to the previous 0% and the 0.6% expected by experts.
Core inflation, which excludes food and energy, has fallen 0.1% month-on-month in Februarywhile the January figure has been revised from +0.1% to 0%.
Canadian dollar reaction
The Canadian dollar has weakened sharply against the US dollar following the data, as falling inflation could lead to a rate cut at the next Bank of Canada meeting. USD/CAD has soared to new more than three-month highs at 1.3609 and is trading at the time of writing above 1.3608, gaining 0.55% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
