- Retail inflation rises more than expected in March.
- Annual IPC reaches 6.7%, surpassing the 6.1% market consensus.
- The loonie rises after knowing the data.
The Consumer’s price index in March in Canada it rose 1.4%, more than the 1% increase expected by analysts. The monthly increase is the most significant in three decades. The annual rate went from 5.7% to 6.7%, more than the 6.1% market consensus. It is the highest annual rate since January 1991.
The CPI core index in March it rose 1%, more than the 0.5% expected and which represents an acceleration of the 0.8% reading in February. Compared to twelve months ago, the rise was 5.5%, well above the 4.2% expected.
The Canadian dollar rose along the market after the inflation data, although after a few minutes, it had cut part of the advance. USD/CAD fell to 1.2514, the lowest in two weeks.
Source: Fx Street
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