Canada August CPI +2.8% vs +2.8% y/y expected

Canada CPI inflation data for August 2018:

• Prior at 3.0% was the highest since 2011
• Prices m/m vs -0.1% expected
• Prior m/m was +0.5% (unrevised)

Core numbers y/y:

• Core common +2.0% vs 1.9% expected (and +1.9% prior)
• Core median +2.1% vs +2.0% prior
• Core trim +2.2% vs +2.1% prior

The core numbers ticked higher which is a small tailwind for the Canadian dollar. Retail sales numbers were also a tad on the strong side.