Canada: Annual CPI eases to 2.0% in June vs. 2.0% expected, CAD weakens a bit

The data published by Statistics Canada this Wednesday revealed that inflation, as measured by the Consumer Price Index (CPI), decelerated to 2.0% yearly rate in June from May's 2.4% but was in line with consensus estimates. On a monthly basis, the headline CPI fell 0.2% as against a rise of 0.4% recorded in the previous month.

Meanwhile, the core CPI, which excludes volatile food and energy prices and published by the Bank of Canada (BOC), came in at 2.0% yearly and remained flat on a monthly basis, both missing consensus estimates and exerting some pressure on the Canadian Dollar.