FXStreet (Mumbai) – The official data released in Canada on Friday showed inflation as measured by the Consumer Price Index (CPI) rose 0.9% in the 12 months to May, after increasing 0.8% in April. The estimates called for a 0.8% rise.
Month-on-month CPI increased 0.6% in May beating the estimate of a 0.5% rise. The CPI stood at -0.1% in April. The core CPI printed higher–than-expected at 2.2% year-on-year and 0.4% month-on-month in May.
As per the official report, the energy index decreased 11.8% in the 12 months to May, following a 13.5% decline in April. The fall in the energy index was led by gasoline prices, which were down 17.4% in May compared with the same month a year earlier. This decrease followed a 21.0% year-over-year decline in April.
(Market News Provided by FXstreet)