◂ Event Timeline

Jul 18, 2023MACROCanada

Canada's inflation falls to 27-month low but underlying pressures persist

Canada's annual inflation rate fell to a 27-month low of 2.8% in June, below expectations, driven by lower energy prices. Food and shelter costs continued to rise despite ten interest rate hikes in under 18 months.

WHY IT MATTERS

Lower energy prices ease some input costs, while persistent food inflation signals continued pressure on Canadian food and feed costs.

AFFECTSCrude Oil (WTI)▼

SOURCE
reuters.comIsmail Shakil, Steve SchererJul 18, 2023

Price reaction & history

Crude Oil (WTI)▼bearishSO FAR1d +2.1%5d +6.2%20d +11.2%

After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.

Mar 14, 2023Oil falls to three-month low on inflation worries, U.S. bank shutdowns-9.5%
Dec 15, 2021Canadian dollar at nearly 3-month low as oil prices fall | Reuters+0.7%
Aug 15, 2021Ringgit hits 1-year low after cabinet resignation; may face pressure in coming months - The Business Times-8.9%
Aug 19, 2025Canada’s annual inflation rate eases to 1.7 per cent in July, core measures stay firm - Grainews+1.4%
Nov 19, 2025Canadian dollar falls the most in four months after key US data cancelled | Reuters-5.1%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Crude Oil (WTI) WTI · GP ▸

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