empty
 
 

23.11.201007:23:00UTC+00Canada Inflation up 2.4 Pct Y/y, Hits Two Year High

News

  • Canada's inflation rate in October jumped to a two-year high of 2.4 pct from 1.9 pct in September.
  • The forecast was for 2.2 pct rise.
  • The rise was due to higher prices for gasoline and energy.
  • The CPI rose 0.4 pct m/m, above 0.2 pct expected and 0.2 pct earlier.
  • The core inflation rate rose to 1.8 pct y/y from 1.5 pct in September.
  • It was up 0.40 pct m/m.

Quotes

  • "It's much higher than expected, no doubt about that, pressure pretty much across the board. If that continues, that would put some doubt on the fact that the Bank of Canada would be able to stay on hold for as long as people are currently expecting." Benjamin Reitzes, Economist, BMO Capital markets

Market Reaction

  • The Canadian dollar rose to C$1.0162 to the U.S. dollar.
  • Canadian government bond yields were mostly higher after the data. Two-year yield rose to 1.637 pct from 1.576 pct.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback