Canada November CPI 6.8% y/y vs 6.7% y/y expected

• Prior was 6.9%
• CPI m/m +0.1% vs 0.0% expected
• Prior m/m reading was +0.7%
• Gasoline prices 13.7% vs +17.8% y/y in prior
• Gasoline prices -3.6% m/m vs +9.2% prior
• Food 11.4% vs +11.0% y/y prior
• Mortgage interest costs +14.5% vs +11.4% prior

Core measures:

• BOC core 5.8% vs 5.8% prior
• BOC core m/m 0.0% vs +0.4% prior
• Median 5.0% vs 4.8% prior (revised to +4.9%)
• Trim 5.3% vs 5.3% prior
• Common 6.7% vs 6.2% prior (revised to +6.4%)

The story here is the jump in mortgage interest costs, something that's been manufactured by the Bank of Canada to fight 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.

Still, this report makes it more likely the Bank of Canada hikes again in January. Pricing right now is close to 50/50.

At the same time, I think what's left of the Canadian housing market is hanging on by a thread.