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Money Canadian inflation rate 1.6% in April

20:07  19 may  2017
20:07  19 may  2017 Source:   msn.com

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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. Gasoline prices 16 per cent higher than 2016, while food is cheaper. CBC News · Posted: May 19, 2017 8:59 AM ET | Last Updated: May 19, 2017.

The year-over-year rate of headline CPI inflation was unchanged at 1 . 6 % in April . Expectations were for a modest rise to 1.7%, matching the Bank of Canada ’s Q2 forecast. Energy price inflation picked up slightly to 9.6

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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Inflation rate unchanged at 1 . 6 per cent in April . A man prepares to fill his car's gas tank in Toronto. (Michelle Siu / THE CANADIAN PRESS). The annual headline inflation rate matched Statistics Canada 's 1 . 6 per cent reading for March, but was slightly below a consensus estimate of 1.7 per cent

Statistics Canada ’s latest consumer price index says higher prices for gasoline and natural gas were the biggest upward inflation drivers in April , year-over-year. Where, exactly, rising interest rates may leave Canadians in danger of losing their homes.

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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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Get access to historical data and projections for Canadian Average Consumer Price Inflation (CPI). Inflation moderates in April . April ’s milder inflation could discourage the Bank of Canada from raising the target for the overnight rate at its 30 May monetary policy meeting.

Canada 's annual inflation rate slowed sharply in March after two months at or above 2%, in line with a widespread pullback in inflation expectations following a jump in the wake of President By Paul VieiraPublished April 21, 2017FeaturesDow Jones Newswires. Facebook. Twitter. Comments. Print.

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.

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