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August 2023 Inflation Hotter Than Expected
The Consumer Price Index went up 3.3% year-over-year in July, following a 2.8% increase in June. For the first time since the pre-pandemic, Canadian inflation is higher than the United States - mainly due to a rise in Alberta electricity prices and higher airfares and travel services. Gasoline prices also contributed to this acceleration, falling less on a year-over-year basis compared to June. CPI 증가 6월에 2.8%, 7월에 3.3% / 알버타 주의 전기, 항공/여행 서비스, 가솔린 등 가격의 상승이 주요 원인
Canada's inflation rate accelerated more than expected for the second consecutive month, mainly driven by higher gasoline prices. This will not be a one-month wonder as gasoline prices rose further in September.
The consumer price index increased 4.0% in August from one year ago, the fastest pace since April, after a 3.3% rise in July. That's faster than the median estimate of 3.8% in a Bloomberg survey of economists. Monthly, the index rose 0.4%, double expectations. Excluding gasoline, the CPI rose 4.1% in August, matching the 4.1% increase in July. 8월에 4.0%
Home Sales Dipped Once Again Last Month In The Wake of Two Consecutive BoC Rate Hikes
Not surprisingly, buyers moved to the sidelines last month as the central bank took the overnight policy rate up to 5.0%. Home sales posted a 4.1% decline between July and August, well below the 10-year moving average shown in the chart below. However, on a year-over-year (y/y) basis, the number of transactions rose 5.3%.