Canada February CPI 5.7% YoY versus 5.5% expected

• CPI year on year +5.7% recorded its largest gain since August 1991 (+6.0%). February marked the second consecutive month where headline inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term exceeded 5%
• Prior 5.1%
• CPI month-to-month 1.0% versus 0.9% expected. This was the highest reading since February 2013. Last month the month-to-month rose 0.9%.
• The SA MOM CPI comes in at 0.6% vs 0.6% last month
• Prior month MoM was 0.9%
• Core MoM SA 0.3% versus 0.4% last month
• excluding gasoline prices rose 4.7% versus 4.3% in January

Core measures year on year

• Common 2.6% versus 2.4% estimate and 2.4% last month (revised from 2.3%
• Median 3.5% versus 3.4% last month (revised from 3.3%)
• Trimmed 4.3% vs 4.0% last month (unchanged from prior month estimate)

Highlights :

• Canadian consumers paid 32.3% more at the pump versus February 2021. Monthly gas prices increased 6.9% as result of the conflict in the Europe and uncertainty surrounding global oil supply
• food prices rose 7.4% year on year versus 6.5% last month. This is the largest increase since May 2019.
• Shelter costs rose 6.6% year on year at the fastest pace since August 1983. Owned accommodations rose to 6.2% and rented accommodations rose 4.2%
• household appliances increase 7.8% with cooking appliances up 9.4% year on year. Refrigerators and freezers rose 15.6%, while laundry and dishwashing appliances rose 9.1%
• good news is telephone services moved lower with prices falling by -7.9% year on year.

The USDCAD has moved to a new session low (the price has been moving lower today) and approached the 100 day moving average 1.2679. The low price reached 1.2686.