{"id":46751,"date":"2019-06-19T09:06:33","date_gmt":"2019-06-19T14:06:33","guid":{"rendered":"https:\/\/olduvai.ca\/?p=46751"},"modified":"2019-06-19T09:06:38","modified_gmt":"2019-06-19T14:06:38","slug":"loonie-spikes-after-canadian-core-inflation-soars-to-10-year-highs","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=46751","title":{"rendered":"Loonie Spikes After Canadian Core Inflation Soars To 10-Year Highs"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.zerohedge.com\/news\/2019-06-19\/loonie-spikes-after-canadian-core-inflation-soars-10-year-highs\">Loonie Spikes After Canadian Core Inflation Soars To 10-Year Highs<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Canadian<strong>&nbsp;inflation rose faster than expected in May across all eight major components, spiking the Loonie&nbsp;<\/strong>as it supports the BoC&#8217;s view that &#8216;the North&#8217; is emerging from its growth slowdown (and Poloz argument that rates will need to go higher).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>The headline consumer price index jumped 2.4% from a year earlier,<\/strong>&nbsp;compared with 2% in April and versus a median economist forecast of 2.1%, Statistics Canada said Wednesday from Ottawa. It was the highest annual rate since October, boosted by increases in food and durable goods prices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Core inflation, closely watched by policy makers, surged,<\/strong>&nbsp;with the average of the three key measures rising to 2.07%, the highest since February 2012.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The&nbsp;<strong>largest upside contributor to CPI on an annual basis was shelter costs,<\/strong>&nbsp;which rose 2.7%. Food and transportation were also major drivers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And the&nbsp;<strong>Trimmed Mean inflation print jumped 2.3% YoY &#8211; the highest since March 2009<\/strong>&#8230;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/bfm304D.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Spiking the Loonie&#8230;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/bfmD12E.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Presumably, BoC does not believe this spike is &#8220;transitory&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Loonie Spikes After Canadian Core Inflation Soars To 10-Year Highs Canadian&nbsp;inflation rose faster than expected in May across all eight major components, spiking the Loonie&nbsp;as it supports the BoC&#8217;s view that &#8216;the North&#8217; is emerging from its growth slowdown (and Poloz argument that rates will need to go higher). The headline consumer price index jumped [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[942,16209,172,426,2446,1936],"class_list":["post-46751","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bank-of-canada","tag-core-inflation","tag-cpi","tag-inflation","tag-loonie","tag-statistics-canada"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46751"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46751\/revisions"}],"predecessor-version":[{"id":46752,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/46751\/revisions\/46752"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}