Investing.com – Canadian inflation decreased for a second consecutive month in December, dropping more than expected, according to official data released on Friday.
According to the report from Statistics Canada, consumer price index (CPI) for December dropped 0.2% from the previous month, compared to forecasts for a 0.1% decline and a 0.4% decrease in November.
Year-on-year, CPI advanced 1.5% last month, compared to expectations for a 1.7% rise and November’s reading of a 1.2% gain.
Core inflation, which excludes food and energy, fell by 0.3% in December, compared to expectations for a 0.2% decline and after a prior drop of 0.5%.
Year-on-year, core CPI advanced 1.6% in December. Consensus had expected core inflation to strengthen to 1.7% from the previous reading of 1.5%.
After the report, which was released simultaneously with retail sales data, USD/CAD traded at 1.3381, compared to 1.3344 prior to the release.