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Consumer Price Index, December 2022
The Consumer Price Index (CPI) rose 6.3% year over year in December, following a 6.8% increase in November. Excluding food and energy, prices rose 5.3% on a yearly basis in December, following a gain of 5.4% in November. The headline CPI grew at a slower pace largely due to slower growth in prices for gasoline. Additional deceleration came from homeowners' replacement cost, fuel oil and other owned accommodation expenses, as well as from various durable goods. Slower price growth was offset by increases in mortgage interest cost, clothing and footwear and personal care supplies and equipment. On a monthly basis, the ... (full story)
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Canada: Annual CPI falls to 6.3% in December from 6.8% previous
Inflation in Canada, as measured by the Consumer Price Index (CPI), decelerated from 6.8% in November to 6.3% in December, matching consensus estimates. On a monthly basis, the CPI fell by 0.6% as compared to the 0.1% decline expected and the previous month's flat reading. Additionally, the Bank of Canada's Core CPI, which excludes volatile food and energy prices, fell 0.3% MoM and unexpectedly eased to 5.4% on a yearly basis. The USD/CAD pair moves little in reaction to the key macro data and remains confined in a narrow trading band, around the 1.3400 round-figure mark.