Money Canadian inflation rate 1.6% in April

20:07  19 may  2017
20:07  19 may  2017 Source:   MSN

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Canada 's inflation rate held steady at 1 . 6 per cent in April , as energy got more expensive but food got cheaper. 'Enjoy it while you can': Summer gas prices forecast to remain stable. How Canadian stores are making gains in the grocery wars with big U.S. rivals.

OTTAWA - The country's annual inflation rate once again rang in at 1.6 per cent last month as higher energy costs offset a seventh consecutive decline in grocery prices, Statistics Canada said Friday.

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May 19 (Reuters) - Canada 's annual inflation rate in April held at 1 . 6 percent, the same as in March, as higher energy prices were moderated by lower food prices, Statistics Canada said on Friday. Percent changes Month-on-month Year-on-year. April March April March.

OTTAWA — Canada 's national annual inflation rate was 1 . 6 per cent in April , Statistics Canada says. Here's what happened in the provinces and territories (previous month in brackets): — Newfoundland and Labrador: 3.6 per cent (3.8). — Prince Edward Island: 1 . 6 (1.7). — Nova Scotia: 0.8 (1.3).

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The agency's consumer price index for April identified higher prices for gasoline and natural gas as the biggest upward drivers in year-over-year inflation.

On the other hand, fresh produce and clothing applied the most downward pressure on the inflation rate.

The annual inflation rate matched Statistics Canada's reading for March but was below a consensus estimate of 1.7 per cent, according to Thomson Reuters data.

Prices at the pump were 15.9 per cent higher last month and the cost of natural gas rose 15.2 per cent more, Statistics Canada said.

Overall food prices were down 1.1 per cent as prices for fresh fruits fell 6.2 per cent, fresh vegetables slipped 5.9 per cent and meat dropped 2.1 per cent.

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OTTAWA — Canada 's national annual inflation rate was 1 . 6 per cent in April , Statistics Canada says. Here's what happened in the provinces and territories (previous month in brackets): — Newfoundland and Labrador: 3.6 per cent (3.8). — Prince Edward Island: 1 . 6 (1.7). — Nova Scotia: 0.8 (1.3).

OTTAWA May 19 Canada 's annual inflation rate held steady in April as higher energy prices offset a decline in food costs for the seventh month in a row, data from Statistics Canada showed on Friday. The annual inflation rate was 1 . 6 percent

In addition, the cost of kids' clothing was 6.2 per cent lower and women's clothes cost 2.8 per cent less in April, compared with a year earlier.

Statistics Canada said the inflation rate was higher in three provinces, including Saskatchewan, which easily saw the biggest acceleration after it raised its provincial sales tax in late March.

Saskatchewan's annual inflation rate sped up to 1.4 per cent last month after rising just 0.6 per cent in March.

Prices rose at a slower pace year-over-year in five provinces, while they were unchanged in two provinces.

Two of the agency's three measures of core or underlying inflation slowed last month, while the third was unchanged. The indicators are designed to strip away more volatile components of the report, and are closely scrutinized by the Bank of Canada.

CPI-common stayed at 1.3 per cent last month, CPI-median decelerated to 1.6 from 1.7 and CPI-trim slowed to 1.3 from 1.4.

The agency also released its latest retail trade numbers, which showed total sales in March delivered a larger than expected rebound by rising 0.7 per cent. The data followed a month-over-month February contraction of 0.4 per cent.

Total retail trade in March was nearly $48.3 billion thanks to stronger sales at motor vehicle and parts dealers, which was mostly due to an increase in new car purchases, the report said.

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

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Canada home prices not coming down yet thanks to low rates: Reuters poll .
<p>Efforts to rein in Toronto's hot housing market and recent problems at mortgage lender Home Capital are unlikely to hurt Canada's national real estate market as low borrowing costs continue to stoke demand</p>Matching British Columbia's move last year for Vancouver, Ontario's provincial government introduced a 15 percent tax on property purchases by foreign buyers in Toronto in April as part of 16 measures to cool the property market.

Source: http://ca.pressfrom.com/news/money/-28530-canadian-inflation-rate-1-6-in-april/

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