By Commodity News Service Canada
WINNIPEG, May 20 – The following is a glance at the news moving markets globally.
CANADA’S CONSUMER PRICE INDEX GAINS
Canada’s Consumer Price Index rose 1.7 per cent in April, compared with a year ago, Statistics Canada said in a report on Friday.
According to StatsCan, excluding gasoline, the CPI rose two per cent year-over-year in April, following a 1.9 per cent increase in March.
UNSOLD US INVENTORY LIKELY TO CURB PROFIT
Unsold US retail inventory is likely to affect profits, according to reports out of the country on Friday.
US retailers are expected to have sold four per cent fewer items at full price in the first quarter compared with the same time frame a year prior.
CANADIAN RETAIL SALES DOWN
Following gains in January and February, retail sales decreased one per cent in March to C$43.8 billion. Sales were down in 6 of 11 subsectors, representing 74 per cent of total retail trade, Statistics Canada said in a report on Friday.
In volume terms, retail sales declined 1.3 per cent.
The largest decrease in dollar terms in March was a 2.9 per cent decline at motor vehicle and parts dealers.