Canada: Annual CPI Eases to 0.7% in December

Inflation in Canada, as measured by the Consumer Price Index (CPI), fell 0.2% MoM in December, data published by Statistics Canada showed on Wednesday.

On a yearly basis, the CPI eased to 0.7% as against consensus estimates pointing to a reading of 1%. The readings were well below market expectations.

Conversely, the Bank of Canada’s (BoC) Core CPI excluding volatile food and energy prices, bettered market expectations and held steady at 1.5% YoY.