Details of the Canadian April consumer price index report:

In y/y terms:

  • Prior was 1.2%
  • Core 2.3% vs 2.4% exp
  • Prior core was 2.4%

In m/m terms:

  • -0.1% vs +0.1% exp
  • Prior was +0.6%
  • Core 0.1% vs 0.2% exp
  • Prior core was +0.4%

USD/CAD jumped about 50 pips on the headlines. Inflation is a touch soft and the US dollar is broadly stronger because of higher US core inflation.