Statistics Canada released consumer price inflation data on Friday. Canadian consumer price inflation decreased 0.4% in November, missing expectations for a 0.2% decline, after a 0.1% gain in October.

On a yearly basis, the consumer price index fell to 2.0% November from 2.4% in October. Analysts had expected the index to decline 2.3%.

The consumer price index was driven by lower gasoline prices.

Canadian core consumer price index, which excludes some volatile goods, decreased 0.2% in November, missing expectations for a 0.1% rise, after a 0.3% increase in October.

On a yearly basis, core consumer price index in Canada declined to 2.1% in November from 2.3% in October, missing forecasts of a rise to 2.4%.

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