Global markets: Canada’s inflation gains

By Commodity News Service Canada

WINNIPEG, August 19 – The following is a glance at the news moving markets globally.

CANADIAN INFLATION MOVES HIGHER IN JULY
The Consumer Price Index (CPI) rose 1.3 per cent in the 12 months to July, after increasing 1.5 per cent in June, Statistics Canada said in a report on Friday.

Excluding gasoline, the CPI was up 1.9 per cent year over year in July, matching the gain in June.

CANADIAN RETAIL SALES MOVE LOWER
Retail sales edged down 0.1 per cent to C$44.1 billion in June. Weaker sales at food and beverage stores and general merchandise stores offset higher sales at motor vehicle and parts dealers, Statistics Canada said in a report on Friday.

Sales were down in 7 of 11 subsectors, representing 54 per cent of retail trade.

After removing the effects of price changes, retail sales in volume terms declined 0.3 per cent in June

SAUDI CRUDE EXPORTS HIT SEASONAL RECORD
Saudi Arabia’s crude oil and refined-product exports reached 8.83 million barrels per day in June, which is the highest for that month, according to reports out of the country on Friday.

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