By Commodity News Service Canada
WINNIPEG, April 22 – The following is a glance at the news moving markets globally.
CANADA’S CONSUMER PRICE INDEX UP
Canada’s Consumer Price Index (CPI) rose 1.3 per cent in the 12 months to March, after increasing 1.4 per cent in February, Statistics Canada said in a report on Friday.
Excluding gasoline, the CPI rose 1.9 per cent year over year in March, matching the increase in February.
Despite a 5.7 per cent monthly increase in gasoline prices in March, the gasoline index was down 13.6 per cent year over year in March, after declining 13.1 per cent in the 12 months to February.
OIL EXPECTED TO GAIN ON THE WEEK
Analysts anticipate crude oil futures will gain on the week, which would be the third straight week of gains.
Strong demand and the signs of declining production around the world have propped up prices, market watchers say.
CANADIAN RETAIL SALES UP
Retail sales rose for the second consecutive month, advancing 0.4 per cent to C$44.2 billion in February. Gains were reported in 9 of 11 subsectors, representing 89 per cent of total retail trade, Statistics Canada said in a report on Friday.
The gain in February was tempered by lower sales at gasoline stations. Excluding sales in this subsector, retail sales advanced one per cent.
After removing the effects of price changes, particularly lower gasoline prices, retail sales in volume terms increased 1.5 per cent.