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Canadian Retail Sales and Inflation

The Consumer Price Index (CPI) rose 0.9 per cent in the 12-months to May, a modest increase from 0.8 per cent in April. Low energy prices continue to drag total CPI lower as the energy component of the index fell close to 12 per cent.  The Bank of Canada's core CPI index, which excludes the prices of energy, food and other volatile components, increased 2.2 per cent in May, a notch lower than the 2.3 per cent rate of 12-month core inflation registered in April.  In BC, inflation registered just 0.8 per cent.

Canadian retail sales dipped 0.1 per cent in April following two consecutive months of gains. Sales were down in just 4 of 11 sub-sectors but those sectors accounted for 43 per cent of total retail trade. In BC, retail sales were mostly flat on a month-over-month basis, albeit down 0.1 per cent. On a year-over-year basis however, retail sales in the province were up 7 per cent over April 2014.


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