Canadian inflation finally falling

The BoC can breath a sight of relief headline inflation (CPI) dropped from 3.3% to 2.9%, and there's been an equally large fall in the Core CPI from 1.9% to 1.5%. Energy prices in the CPI were the primary reason for price drops. So good new right!

Not really, because on a seasonally adjusted basis CPI actually rose a bit (I like being a party pooper). However, honestly even there the increase was minimal 0.1% and actually is more or less meaningless since its directionless (and the increase was smaller than last month) -- at one point over massaged data looses all significance.

For now, Canadian inflation is heading lower -- which makes policy makers happy -- they've got enough trouble elsewhere.

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