Canada: Annual CPI in November rose to 2.2% as expected

• Core inflation in November stays unchanged at 1.9% on a yearly basis.
• CAD rises modestly against USD after CPI figures.

Inflation in Canada, as measured by the Consumer Price Index (CPI), in November rose to 2.2% on a yearly basis from 1.9% in October, the data published by Statistics Canada showed on Wednesday. This reading came in line with analysts' estimates.

On a monthly basis, the CPI declined 0.1% in November. Additionally, the Bank of Canada's core CPI, which excludes volatile food and energy prices, stayed unchanged at 1.9% annually and fell 0.2% on a monthly basis as expected.

The USD/CAD came under modest bearish pressure after inflation data and was last down 0.12% on the day at 1.3144.