Statistics Canada released consumer price inflation data on Friday. Canadian consumer price inflation increased 0.2% in June, in line with expectations, after a 0.6% gain in May.

On a yearly basis, the consumer price index rose to 1.0% in June from 0.9% in April, in line with expectations.

The consumer price index was partly driven by higher food prices, which climbed 3.4% in June.

The energy index plunged 9.0% in June from the same month a year earlier as gasoline price dropped 14.1% in June from the same month a year earlier.

Canadian core consumer price index, which excludes some volatile goods, was flat in June, after a 0.4% gain in May.

On a yearly basis, core consumer price index in Canada was up to 2.3% in June from 2.2% in May. Analysts had expected the index to remain unchanged at 2.2%.

The Bank of Canada's inflation target is 2.0%.