Canada CPI accelerated to 3.6% yoy in May, up from 3.4% yoy, above expectation of 3.5% yoy. That’s the largest increase since May 2011. Excluding gasoline, CPI rose 2.5% yoy. Looking at some details, prices rose in every major component on a year-over-year basis. Shelter prices rose 4.2% yoy, largest since September 2008. Durable goods prices rose 4.4% yoy, largest since 1989.
CPI common rose to 1.8% yoy, up from 1.7% yoy, matched expectations. CPI median rose to 2.4% yoy, up from 2.3% yoy, matched expectations. CPI trimmed rose to 2.7% yoy, up from 2.3% yoy, above expectation of 2.4% yoy.
