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Global markets: Canada’s consumer price index rises

By Commodity News Service Canada

WINNIPEG, December 22 – The following is a glance at the news moving markets globally.

– Canada’s Consumer Price Index (CPI) rose 1.2 per cent on a year-over-year basis in November, following a 1.5 per cent gain in October, Statistics Canada said in a report on Thursday.

The CPI indicates inflation, or the cost of living.

High levels of inflation are linked to declines in consumer purchasing power and standard of living.

– US jobless claims in the week ending December 17 increased to a six-month-high according to reports out of the country on Thursday.

Initial claims for unemployment benefits moved up by 21,000 to a seasonally adjusted 275,000, the country’s labour department said.

While the number of claims was higher, the total figure remains less than 300,000, which is indicative of a healthy labour force.

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