Inflation in Canada unexpectedly rose less than 3 weeks after the central bank cut interest rates to be the first in the Group of Seven in this move, casting a shadow over expectations of further rate easing
The consumer price index rose 2.9 percent in May from a year ago, up from 2.7 percent in the previous month. This is mainly due to higher service prices, which is faster than the median estimate of 2.6 percent, according to a Bloomberg poll.
On a monthly basis, the index rose 0.6 percent, versus expectations of a 0.3 percent increase and up from 0.5 percent in April.
Source (Al-Arabiya.net Website, Edited)
