- Prior month 2.8%
- CPI MoM 0.6% vs 0.3% estimate
- Prior MoM 0.1%
- CPI YoY 3.3% vs 3.0% expected
- gasoline prices fell -12.9% year on year versus -21.6 last month.
Core measures
- BOC Core YoY 3.2% versus 3.2% last month
- BOC Core MoM 0.5% vs. -0.1% last month
- Median 3.7% versus 3.9% last month
- Trim 3.6% vs 3.7% last month
- Common 4.8% vs 5.1% last month
Highlights of the report:
- Consumer Price Index (CPI) for July
- Rose 3.3% year over year, up from 2.8% in June.
- Increase mainly due to base-year effect in gasoline prices.
- Excluding gasoline, CPI rose 4.1% (from 4.0% in June).
The data is worse than expected and the CAD is stronger with USDCAD falling back toward its 200-day moving average at 1.3447 and rising 100-hour moving average at 1.3440. The high price and today reached just before the data dump extended up toward the high price from last week at 1.35012 (the high price reached 1.34997). With the price decline, there is now a double top near the 1.35000 level.