Canada’s CPI rose 0.1% mom in June, falling short of the expected 0.2% mom gain. On an annual basis, headline inflation accelerated from 1.7% yoy to 1.9% yoy, matching expectations. The increase was driven partly by a smaller year-on-year decline in gasoline prices and firmer price gains in durable goods like vehicles and furniture.
Meanwhile, BoC’s preferred core inflation measures remained unchanged, with median and trimmed CPI steady at 3.0% and the common measure holding at 2.6%.
