DATA SNAP: Canada CPI Annual Rises 1% In June

June Inflation Report 
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Key Numbers 
                       June      May      ! Consensus:    ! 
Core Inflation y/y    +2.3%     +2.2%     !Core: +2.2% y/y! 
Core Inflation m/m    +0.0%     +0.4%     !Headline: +1.0%! 
All-items CPI y/y     +1.0%     +0.9%     !               ! 
All-items CPI m/m     +0.2%     +0.6%     !Actual:        ! 
                                          !Core: +2.3%    ! 
                                          !Headline: +1.0%! 
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    By Kim Mackrael 

        OTTAWA--Canadian inflation rose as expected in June, led by higher meat costs and home insurance premiums that were offset by lower gas prices.
        The all-items consumer price index rose 1.0% in June from a year earlier, Statistics Canada said Friday. That matched expectations for a 1.0% increase, according to economists at Royal Bank of Canada.
        Canada's annual core inflation rate, which excludes volatile consumer items such as some food and energy prices, rose 2.3%, slightly ahead of expectations for a 2.2% increase.
        June marked the 11th consecutive month in which the core annual rate was 2% or higher.
        Earlier this week, the Bank of Canada said underlying inflation is hovering in the 1.5% to 1.7% range. The central bank cut its benchmark rate by 25 basis points, to 0.50%, as cutbacks in the energy sector and an increase in economic slack posed downward risks to hitting its preferred inflation target of 2%.
        (END) Dow Jones Newswires

        July 17, 2015 08:30 ET (12:30 GMT)

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