Canada released the consumer price index for the month of August, where CPI increased by 0.3%, above the prior and expected estimates of 0.2% and 0.1% respectively, while compared with a year earlier, CPI increased by 3.1%, compared with the prior estimate of 2.7% and above median estimates of 2.9%.

Core CPI, which excludes prices of food and energy, increased in August by 0.4%, compared with the prior and expected estimate of 0.2%, while compared with a year earlier, Core CPI increased by 1.9% also above the prior and expected estimate of 1.6%.