Canada August CPI +1.4% vs +1.5% y/y expected

Canadian August inflation data
– was +1.2%
– CPI +0.1% m/m vs +0.2% exp
– Prior 0.0% m/m
Core metrics:
– CPI common y/y   +1.5% vs +1.4% prior
The upticks in the core measures somewhat mitigate the weak headline, but not enough to prevent a 50-pip jump in USD/CAD. Part of the reason for such a big move was that retail