Inflation rises 0.4% in October above the 0.2% expected

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Canadian inflation data for October showed overall price advance above expectations. The consumer price index (CPI) rose 0.4% in October, above the 0.2% of the market consensus, and after having fallen 0.1% in September. The annual rate went from 0.5% to 0.7%, being that the estimates were a decrease of 0.4%.

Regarding the Bank of Canada core CPI, increased 0.4%, in line with expectations and the annual rate remained at 1%.

The loonie (CAD) rose marginally in the market after the data, although not against the dollar. At the time the data was published, the dollar had been making an advance in the market, cutting losses against currencies linked to commodities, which caused the USD / CAD to rise above 1.3080.

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