Canada CPI rose to 4.8% yoy in Dec, highest since 1991
Canada CPI ticked up from 4.7% yoy to 4.8% yoy in December above expectation of 4.7% yoy. That’s the highest level since September 1991. Excluding gasoline, CPI rose 4.0% yoy. On monthly basis, CPI dropped -0.1% mom, first decline since December 2020, in response to lower demand due to Omicron.
CPI common rose from 2.0% yoy to 2.1% yoy matched expectations. CPI median rose from 2.8% yoy to 3.0% yoy, above expectation of 2.9% yoy. CPI trimmed jumped from 3.4% yoy to 3.7% yoy, above expectation of 3.4% yoy.
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