Canada CPI rose 0.8% mom in June, well above expectation of 0.4% mom. Annually, CPI turned positive to 0.7% yoy, up from May’s -0.4% yoy, and beat expectation of 0.3% yoy. That’s also the largest jump year-over-year CPI rate since March 2011. Prices rose in five of the eight major components on a year-over-year basis. Food and shelter prices contributed the most to the increase in the CPI. Prices for goods declined by less than the previous month on a year-over-year basis, including energy prices.
CPI common rose to 1.5% yoy, up from 1.4% yoy, above expectation of 1.4% yoy. CPI median rose was unchanged at 1.9% yoy, above expectation of 1.8% yoy. CPI trimmed accelerated to 1.8% yoy, up from 1.7% yoy, above expectation of 1.6% yoy.
