February Canadian consumer price index
– was +2.1%
– CPI +0.2% m/m vs +0.2% m/m expected
– Core common 1.3% vs 1.3% prior
– Core median +1.9% vs +1.9% prior
No signs of a pickup in inflation in these numbers. The slight miss on the headline and downtick in core trim will give the BOC comfort in its dovish stance.
