Canadian inflation data for September
- Prior was +1.4% y/y
- CPI +0.2% vs +0.3% m/m expected
- Prior m/m reading was +0.1%
Core metrics:
- CPI common y/y +1.5% vs +1.5% prior
- CPI trim +1.5% vs +1.4% prior
- CPI median +1.8% vs +1.7% prior (prior revised to +1.8%)
Details:
- CPI ex-gasoline +1.1%, same as prior
- Prices up in 6 of 8 components
- Transportation costs +3.8% y/y vs +2.8% prior
- Gasoline prices +14.1% y/y
There is some small acceleration in the core measures but the retail sales numbers released at the same time were very weak and that's sending the Canadian dollar lower.