Canada July industrial product price +0.7% vs 0.0% expected

Producer price data from StatsCan:
– Prior was +0.5%
– Raw materials price index -5.9% vs -4.3% expected
– Prior raw materials price index 0.0% (revised to +0.2%)
Along with plunging commodity prices (negative for inflation), the Bank of Canada is dealing with a plunging currency (positive for inflation).

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