Canadian consumer inflation data comes in much stronger than expected. And the Loonie soars.
Headline CPI rose 0.5% mom, 3.0% yoy versus expectation of -0.1% mom, 2.4% yoy. It’s also much stronger than June’s reading of 0.1% mom, 2.5% yoy.
CPI core Common was unchanged at 1.9% yoy. CPI core Median was unchanged at 2.0% yoy. CPI core Trim rose to 2.1% yoy, up from 2.0% yoy.
“While continued strength in energy prices contributed most to the year-over-year increase, higher prices for various services, including air transportation and travel tours, also contributed to consumer price growth in July,” Statistics Canada said.
Also from Canada, international securities transactions rose to CAD 11.5B in June versus expectation of CAD 4.9B.
So now, is an Oct BoC hike a done deal?
