Canadian Retail Sales and Inflation
Canadian retail sales declined 0.1 per cent on a monthly basis in August, but were 3.6 per cent higher on a year-over-year basis. Retail sales were lower in 7 of 11 sub-sectors representing 52 per cent of total retail trade. After a spending binge in 2017 which saw retail sales grow nearly ten per cent, BC consumers have closed their wallets this year. BC retail sales declined 0.1 per cent on a monthly basis in August and were just 1.3 per cent higher year-over-year.
Canadian inflation, as measured by the Consumer Price Index (CPI), registered 2.2 per cent in the 12 months to September, down from the nearly 3 per cent rate recorded in July and August. The Bank of Canada's three measures of trend inflation softened slightly in September, but still remain at or near the Bank's two per cent target. In BC, provincial consumer price inflation was 2.5 per cent in the 12 months to September. Although inflation numbers have softened slightly, it is still widely expected that the Bank of Canada will raise its overnight rate at its next meeting on October 24.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.