Core inflation in Canada exceeds expectations
According to data released yesterday by the Bank of Canada, consumer prices in the country rose by 3.4% in May.
According to data released yesterday by the Bank of Canada, consumer prices in the country rose by 3.4% in May. Excluding food and energy, prices increased by 3.7%. Analysts expected the indicator to fall to 3.6%. The higher-than-expected core inflation will likely force the regulator to continue tightening its monetary policy and will buoy the Canadian dollar.
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