Canada’s CPI slowed from 3.4% yoy to 2.9% yoy in January, much lower than expectation of 3.3% yoy. The largest contributor to headline deceleration was lower year-over-year prices for gasoline (-4.0%). Excluding gasoline, CPI also fell from 3.5% yoy to 3.2% yoy. Food prices growth also fell from 4.7% yoy to 3.4% yoy. On a monthly basis, the CPI was unchanged, following a -0.3% mom decline in December.
Looking at the core measures, CPI median fell from 3.5% yoy to 3.3% yoy, below expectation of 3.6% yoy. CPI trimmed fell from 3.7% yoy to 3.4% yoy, below expectation of 3.6% yoy. CPI common fell from 3.9% yoy to 3.4% yoy, below expectation of 3.8% yoy.
. Excluding gasoline, CPI also fell from 3.5% yoy to 3.2% yoy. Food prices growth also fell from 4.7% yoy to 3.4% yoy. On a monthly basis, the CPI was unchanged, following a -0.3% mom decline in December.){kind=link}