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The Canadian dollar weakened against the US dollar after the release of data on inflation in Canada. Report submitted by Statistics Canada showed that the annual growth of consumer prices stabilized in August as lower gasoline prices offset the rise in the cost of other goods, such as food.
According to the data, annual inflation in the country amounted to 1.3 per cent in August, as in the previous month. It is worth emphasizing latest update in line with expectations of experts. Core inflation, which excludes volatile items, rose by 2.1 percent compared with growth of 2.4 percent at the end of July, which is also in line with expectations.
Recall, the Bank of Canada twice this year lowered interest rates to support the economy, which was in a mild recession in the first half of 2015. The Central Bank noted that the depreciation of the national currency and some industry factors will temporarily pressure
The report also stated that on an annual basis, prices rose in seven of the eight major categories of the general consumer price index. The cost of food rose by 3.6 percent compared to the previous year, showing a maximum increase among all groups. Meat prices soared by 6.3 percent, while gasoline prices fell by 12.6 per cent per annum.
Basic consumer price index rose by the Bank of Canada rose by 2.1 per cent per annum, after rising 2.4 percent in July. On a monthly basis index rose by 0.1 percent compared to 0.2 percent last month.
The euro lost ground against the previously-earned dollar today due to the ongoing dynamics of the market reaction to yesterday's Fed decision on rates. Also had little impact on the euro zone data. The European Central Bank said that the positive balance of payments euro zone fell in July, which was caused by the growth of the deficit of secondary income. According to the data, the current account surplus narrowed to 22.6 billion. Euros in July from 24.9 billion. Euros in June. The surplus in trade in goods rose to 26.9 billion. Euros from 26.6 billion. Euro in the previous month. However, the surplus in the trade in services fell to 3.6 bln. Euro 5.6 billion. Euros. In addition, it became known that the main income account surplus more than doubled - to 2.8 bln. Euro 1.2 billion. Euros and secondary income account deficit increased to 10.7 billion. Euro 8.4 billion. Euro in the previous month. In unadjusted basis, the current account surplus rose 33.8 billion. Euros in July from 30.6 billion. Euros in June. In the financial account, combined direct and portfolio investments, an increase was recorded at 22 billion. Euros in assets and a decrease of 66 billion. Euros in liabilities.
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