Canada Inflation Holds at 1.7% in May as Core Pressures Cool

Canadian consumer prices held steady while core measures eased slightly, likely giving some relief to Bank of Canada policymakers who had raised concerns about hotter underlying inflation prints in recent months.

The consumer price index rose 1.7% from a year ago in May, Statistics Canada data showed Tuesday. The yearly pace was unchanged from April, and also matched the median projection in a Bloomberg survey of economists.