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Global markets: Canadian consumer prices rise

By Commodity News Service Canada

WINNIPEG, November 18 – The following is a glance at the news moving markets globally.

– The Canadian Consumer Price Index (CPI) rose 1.5 per cent on a year-over-year basis in October, following a 1.3 per cent gain in September, Statistics Canada said in a report on Friday.

Excluding gasoline, the CPI was up 1.4 per cent year over year in October, after posting a 1.5 per cent increase in September, StatsCan said.

The Consumer Price Index can be used to indicate inflation levels and calculate cost of living expenses, analysts say.

– OPEC (Organization of the Petroleum Exporting Countries) producers are moving closer to reaching a deal to limit output, market watchers say.

In order to reach an agreement countries are willing to offer increased flexibility to Iran, market watchers say.

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