TORONTO (Reuters) - Canada’s dollar weakened on Friday after data showed the country’s inflation rate in December dropped to 2.3 percent from 2.9 percent in November on a slower increase in gasoline prices and lower prices for passenger vehicles.
The annual core inflation rate fell to 1.9 percent from 2.1 percent in November, Statistics Canada said on Friday.
The Canadian dollar fell to a session low of C$1.0165 to the U.S. dollar, or 98.38 U.S. cents, from around C$1.0135 just before the data. The currency finished Thursday at C$1.0114 to the U.S. dollar, or 98.87 U.S. cents.
Reporting By Jennifer Kwan; Editing by Jeffrey Hodgson