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Canadian Inflation Resumed Growth. USD/CAD Overview
Core inflation in April unexpectedly rose
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Core inflation in April unexpectedly rose higher than forecast, rising from 2.2% to 2.5% year-over-year. Headline inflation slowed from 2.3% to 1.7%, slightly above the forecast. The decline in headline inflation is explained mainly by a sharp drop in gasoline prices—down 109% month-over-month and 18.1% year-over-year—and a 14.1% year-over-year decline in natural gas prices due to the removal of the carbon emissions tax. Without this factor, headline inflation would have been significantly higher. Two of the
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