• Canada MAY CPI M/M: +0.4% vs. +0.1%e; Y/Y: +2.4% vs. +2.1%e
  • CPI Core- Median Y/Y: +2.1% vs. +1.9%e
  • CPI Core- Common Y/Y: +1.8% vs. +1.9%e
  • CPI Core- Trim Y/Y: +2.3% vs. +2.1%e (highest since Feb. 2012)
  • Consumer Price Index: 136.6 v 136.2e

Data from Stats Canada showed Canada’s annual inflation rate climbed in May, driven by steep price increases for fresh vegetables and autos.

Canada’s consumer-price index increased +2.4% on a year-over-year basis in May, an increase from a +2% rise in the previous month.

Market expectations were for a +2.2% rise in May and on a month-over-month basis, inflation rose 0.4%.

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Loonie takes flight after inflation data

CAD is trading at the intraday highs after this morning’s inflation print – C$1.3345 up +0.24% from C$1.3381 just ahead of the release.

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