March inflation data from Statistics Canada:
– Prior was +1.4% y/y
– +0.6% m/m vs +0.5% exp
– Prior core CPI 1.9% (unrevised)
– Core CPI +0.7% vs +0.4% exp
Very hot inflation report at first look. A major part of the skew looks to be clothing prices, which rose 4.2% month-over-month. The ‘recreation & education’ category and ‘alcohol & tobacco’ were upward skews but it was largely that huge jump in clothing prices.
