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Canadian consumer price index
- before The month is 2.6 %
- CPI M/M +0.3 % against the expected +0.6 %. Previous month +1.1 %
- Core CPI M/M +0.1 % versus +0.7 % last month
- Core CPI y/y +2.2 % compared to 2.7 % last month
- Average CPI Y/Y 2.9 % for 3.0 % estimate. Last month 2.9 %
- CPI TIM 2.8 % compared to 3.0 % expected last month 2.9 %
- CPI is popular 2.3 % compared to 2.5 % last month
- Full report
This is an important final data point before the Canada Bank price decision on Wednesday. Before data, the market was 60 % of reservation and an opportunity by 40 % of the reduction. This has turned to 50/50 and USD/CAD soon about 30 points.
Macklem indicated that they will be more orientation in cutting rates, but this data point gives them the green light to cut or point out that the pieces will come in June.
The report highlights the end of the GST tax holidays on February 15 as something ran. Travel -related elements were a 12 % traction with air transport on an annual basis and travel tours by 4.7 %. The prices of cell phone service also decreased by 8.8 % on an annual basis amid the price of the price of Canadian telecommunications companies.
Looking forward, the Canadian carbon tax was removed on April 1, which led to a sharp drop in gasoline prices that are exacerbated by the low price of oil. This will appear in the data next month.
