Canada CPI m/m comes in at 0.5% against 0% consensus

Canada’s Consumer Price Index month over month, or CPI m/m, was reported at 0.5%. This figure was above the consensus expectation of 0%. The previous month’s reading was -0.4%. The release occurred on August 17, 2026, at 12:31 UTC.

Following the release, the Canadian dollar showed some strength against major currencies. CADJPY rose by 4.2 pips after 15 minutes. Other CAD pairs moved against the non-CAD currency. USDCAD declined by 4.7 pips, AUDCAD by 4.7 pips, NZDCAD by 2.7 pips, EURCAD by 2.1 pips, and GBPCAD by 3.2 pips. CADCHF saw a smaller gain of 0.6 pips. These initial moves are relatively small when compared to the typical 1-hour movements observed after past CPI releases. For instance, USDCAD typically sees a median 1-hour move of 17 pips, while AUDCAD typically moves 13 pips in an hour. CADJPY’s typical median 1-hour move is 15 pips.