Canada inflation climbs, while retail sales decline

| March 22, 2019

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Canadian inflation rose last month at a slightly faster-than-expected pace, pushed higher by increased costs associated with mortgage payments and fresh vegetables.According to Stats Canada, Canada’s CPI climbed +1.5% y/y in February, up from a +1.4% rise in January. Market expectations were for a +1.4% increase.Meanwhile, the Bank of Canada (BoC) preferred measures for underlying inflation was unchanged m/m, with the average core-CPI rate for February at +1.83%. Canadian retail sales fell for a third consecutive month in January on decreased demand for new and used cars.Stats Canada said retail sales decreased -0.3% in January m/m to a seasonally adjusted C$50B. Market expectations were for a +0.4% increase.In volume terms, January sales were unchanged from the previous month.

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