USD/CAD Steady after Canada's CPI Slips to 2%
Canada’s inflation rate dropped to 2% in August. This was down sharply from 2.5% in July and below the market estimate of 2.1%. Monthly, inflation declined by 0.2%, down from a 0.4% gain in July and shy of the market estimate of zero. The core rate declined to -0.1% down from 0.3% in July. Yearly, the average of two key core indicators eased to 2.35%, down from 2.55% in July.
Canada’s inflation rate dropped to 2% in August. This was down sharply from 2.5% in July and below the market estimate of 2.1%. Monthly, inflation declined by 0.2%, down from a 0.4% gain in July and shy of the market estimate of zero. The core rate declined to -0.1% down from 0.3% in July. Yearly, the average of two key core indicators eased to 2.35%, down from 2.55% in July.
