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giftedviz.com May 27, 2017


Canada Annual Inflation Rate Advances 1.6% in April

20 May 2017, 03:24 | Darnell Patrick

A man prepares to fill his car's gas tank in Toronto

Canada's inflation rate falls with gas prices

Manitoba's retail sales also edged higher in March, rising by 0.3 per cent to $1.64 billion from $1.63 billion in February.

"The fact that core (inflation) remains so muted is a fairly strong argument in favor of not following any lead by the Fed in the immediate future", said Doug Porter, chief economist at BMO Capital Markets.

Annual inflation in Canada rose in April at an identical pace from the previous month, while gauges of underlying, or core, price increases continued to exhibit softness - likely reinforcing the Bank of Canada's view slack in the economy is weighing on inflationary pressure. CPI-common stayed at 1.3 per cent last month, CPI-median decelerated to 1.6 per cent from 1.7 per cent and CPI-trim slowed to 1.3 per cent from 1.4 per cent.

The nation's number crunchers reported Friday that gasoline prices bolted higher 9.5% for the month, partly due to supply disruptions at oil refineries, as they changed over to summer fuel blends.

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The agency says total retail trade in March was almost $48.3 billion thanks to stronger sales at motor vehicle and parts dealers.

There was also a strong 3.1% increase in electronics sales to give a 11.2% annual gain.

Economists had predicted a 0.4 per cent increase in retail trade for March, according to Thomson Reuters.

The Canadian economy looks set to grow by four per cent in the first quarter, with a robust handoff at the end of the quarter suggesting the second quarter will not disappoint, Marple said.



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