Canada: Annual CPI rises to 0.7% in October vs. 0.4% expected

• Annual Core CPI in Canada remained steady at 1% in October.
• USD/CAD continues to trade with modest losses below 1.3100.

Inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 0.4% in October from -0.1% in September, the data published by Statistics Canada showed on Wednesday. On a yearly basis, the CPI edged higher to 0.7% from 0.5% and came in higher than the market expectation of 0.4%.

Meanwhile, the Bank of Canada's Core CPI, which excludes volatile food and energy prices, stayed unchanged at 1% on a yearly basis in October.

Market reaction

The USD/CAD showed no immediate reaction to this report and was last seen losing 0.2% on the day at 1.3077.