CPI (MoM) Canada
Event Date: Tuesday, November 21, 2023
Event Time: 13:30 CET
Updated Sunday, November 19, 2023
Inflation has been softening in Canada in the last two years. In January, CPI increased by 0.3%, while in February it increased by 0.4%, which seemed promising, but it fell by 0.6% in March and again by 0.7% in April. CPI increased by 0.3% in May, while in June it Jumped to 0.8%, as the country reopened. Although it fell flat at 0.0% in July and core CPI declined by 0.1%, while in August and the September headline CPI also declined by 0.1% Inflation has remained soft since then and in December it came at -0.2%, but increased by 0.6% in January and increased by 0.5% in February and continued at that pace until May, but in June CPI came at 0.3%. In July we saw a 0.6% increase and a 0.2% increase in August. In September we saw a slowdown to 0.1% but October came at 0.7%, although December came at -0.7%. In May inflation fell to 3.4% while in June slowed again to 2.8%. In September we saw a 0.1% in the headline CPI MoM, but this month the CPI is expected to increase by 0.2%. Please follow us for live coverage of this event by experienced analysts.
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About CPI (MoM) Canada
Canadian CPI (MoM) is a primary measurement of inflationary pressures facing the CAD. It is derived and presented by the National Statistics Bureau, a governmental entity. Canadian CPI (MoM) is a comparison of retail prices facing a typical basket of goods and services, compared on a month-over-month basis. Monetary policy decisions, trade balance, and consumer confidence are sensitive to CPI. Currency markets involving the CAD are receptive to a growing CPI, as it is a signal of inflation. As inflationary pressures grow or reside, the Bank of Canada (BOC) crafts monetary policy accordingly. High CPI values are often viewed as a precursor for tightening monetary policy toward the CAD, while low readings are conducive to a dovish tone.Canadian CPI is capable of swaying CAD valuations dramatically. Strong values lead to bullish participation for the CAD and lagging CPI facilitates bearish price action.