- Prior was +1.4%
- CPI y/y 6.8% vs 6.7% expected
- Prior y/y reading was +6.7%
- Gasoline prices vs +39.8% m/m prior
Core measures y/y:
- Median 4.4% vs 3.8% prior
- Trim 5.1% vs 4.7% prior
- Common 3.2% vs 2.9% expected (prior was 2.8%)
- BOC core 5.7% vs 5.4% expected (prior was 5.5%)
- BOC core +0.7% m/m vs +0.4% expected
This is another terrible read on inflation . Globally it's the same story all over and it's getting worse, not better. Powell yesterday said they will continue to hike until something breaks. In Canada, the 'something' will be the housing market.
