Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |

Categories

Canadian Retail Sales and Inflation - March 25, 2019

Canadian retail sales declined for a third straight month, falling 0.3 per cent in January.  Sales were lower in only 4 of 11 subsectors, with lower sales of motor vehicles and parts contributing to the majority of the decline. Excluding that sector, retail sales were 0.1 per cent higher. In BC retail sales were up 1.5 per cent on a monthly basis in January but were just 2.6 per cent higher year-over-year. In contrast to the national trend, sales of motor vehicles and parts were the largest contributor to gains in BC.
 
Canadian inflation, as measured by the Consumer Price Index (CPI), registered 1.5 per cent in the twelve months to February,  a slight uptick from 1.4 per cent in January.  The Bank of Canada's three measures of trend inflation were essentially unchanged, averaging just over 1.8 per cent.  In BC, provincial consumer price inflation was 2.2 per cent in the 12 months to February. 
 
With inflation well in-check and meager retail spending growth providing further evidence of a slow first quarter, we expect that the Bank of Canada will remain sidelined for most, if not all of 2019.  As a result, lower mortgage rates should prevail in 2019, providing a much needed boost to home sales. 



Copyright British Columbia Real Estate Association. Reprinted with permission.


 
Comments:
No comments

Post Your Comment:

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.