Canada's Housing Bubble

Nov 23, 2010 dailymarkets.com

Forex Pros – Core consumer price inflation in Canada rose more-than-expected in October, official data showed on Tuesday.

In a report, Statistics Canada said that its core consumer price index, which excludes the 8 most volatile items, rose by a seasonally adjusted 0.4% in October, after rising by 0.2% in September.

Analysts had expected core CPI to increase by 0.1% in October.

The report also showed that CPI, which includes more volatile food and energy costs, rose more-than-expected, increasing by 0.4% in October, after rising by 0.2% in September.

Analysts had expected CPI to rise by 0.2% in October.

Meanwhile, year-on-year CPI rose by 2.4% in October, after increasing by 1.9% in September. It was the largest increase since October 2008.

Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.14% to hit 1.0172.