Annual CPI declines to 7.6% in July

As measured by the Consumer Price Index (CPI), inflation in Canada declined to 7.6% yearly in July from 8.1% in June, the data published by Statistics Canada revealed on Tuesday. This print came in line with the market expectation. The Bank of Canada’s (BOC) Core CPI, which excludes volatile food and energy prices, edged lower to 6.1% from 6.2% in the same period, compared to analysts’ estimate of 6.7%.