Steve Flynn  RE/MAX Crest Realty- Burnaby 

Cell: 604.785.3977 |

Categories

Canadian Retail Sales and Inflation - September 21, 2018

Canadian retail sales increased 0.3 per cent on a monthly basis in July, and were 3.7 per cent higher on a year-over-year basis. Retail strength was broad based with sales up in 8 of 11 sub-sectors representing 55 per cent of total retail trade. In BC, consumer spending continues to weaken as retail sales declined 0.5 per cent on a monthly basis and were just 1.2 per cent higher year-over-year. 

Canadian inflation, as measured by the Consumer Price Index (CPI), registered 2.8 per cent in the 12 months to August following a 3 per cent increase in prices in July. The Bank of Canada's three measures of trend inflation all increased in August and average 2.1 per cent.   In BC, provincial consumer price inflation was 2.9 per cent in the 12 months to August.  With inflation trending higher in recent months, the Bank of Canada is almost certain to raise its overnight rate at its next meeting in October.



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.