Canada Hits Highest Inflation Rate In Seven Years


Data from Statistics Canada showed that inflation unexpectedly accelerated in the last month of 2018. Sharper costs for phone services and food were offset by lower gas prices, which pushed up the average inflation rate for all of 2018 to the highest level in seven years.

Canada’s December print rose 2% y/y vs. a 1.7% rise in November. The market was expecting a change of +1.7% on the month.

For all of 2018, CPI rose 2.3%, following gains of 1.6% in 2017 and 1.4% in 2016.

The Bank of Canada (BoC) preferred measures for inflation was unchanged compared with November, with the average annual gain for the three core-inflation gauges holding firm at 1.9%. BoC sets rate policy to achieve and maintain 2% inflation.

has come under pressure since the release, -0.22% to C$1.3244

USD/CAD for Jan. 17-18, 2019.

USD/CAD for Jan. 17-18, 2019.

Canadian Securities

Other data releases showed that foreign investment in Canadian securities accelerated in November compared with the previous month, with the focus of their purchases in government bonds.

Non-resident investors bought a net C$9.45 billion in Canadian securities in November vs. the previous month, when foreigners bought a net C$3.97 billion.

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link



Leave a Reply

error: Content is protected !!