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.