According to comprehensive news from WorldWay, Statistics Canada announced that due to the sharp annual increase in energy and meat prices of 8.4% (the highest in two and a half years) and 8%, Canada's Consumer Price Index (CPI) in May continued to accelerate further with an annual increase of 2.3%, marking the largest increase since February 2012, and for the first time in nearly two years exceeding the central bank's target of 2%, as well as slightly exceeding the market expectation of an increase of 2.1%; seasonally adjusted CPI increased slightly by 0.2% month-on-month.
During the period, the core CPI continued to accelerate further with an annual increase of 1.7%, the largest increase since July 2012, while the market expected an increase of 1.5%; the month-on-month increase unexpectedly accelerated again to 0.5%, marking the largest increase since February 2012, while the market originally expected a monthly increase of 0.2%.
WorldWay Editor
