Canada CPI measures how fast consumer prices are rising year-on-year, the key inflation gauge the Bank of Canada watches when setting interest rates.
Actual
3.4%
Forecast
3.4%
Previous
3.1%
Source: Statistics Canada. Figures as released; revisions appear in the next print.
Canada Inflation Rate (CPI) for December 2023 came in at 3.4% versus 3.4% expected (previous 3.1%), in line with forecast.
What it meant for the Canadian Dollar
The actual landed in line with the 3.4% forecast. A reading above forecast is generally bullish for the CAD, and below forecast bearish.
New to this release? See what Canada Inflation Rate (CPI) measures, the next release and its full history.