Canadian retail sales increased by 0.3 per cent to $70.1 billion in April compared to the previous month. Compared to the same time last year, retail sales were up by 5.0 per cent. Furthermore, core retail sales, which exclude gasoline and automobile items, rose by 0.1 per cent month-over-month. In volume terms, adjusted for rising prices, retail sales increased by 0.5 per cent in April.

Retail sales in British Columbia were up 1.7 per cent in April from the previous month and rose by 6.1 per cent compared to the same time last year. In the CMA of Vancouver, retail sales were up 2.1 per cent from the prior month and were 9.0 per cent above the level of April 2024.

April's report demonstrates continued resilience in Canadian retail activity amidst global uncertainties, with core retail sales rising for a third consecutive month. Following its choice to hold earlier this month, the Bank of Canada will more closely follow this month's inflation and GDP reports to guide its next rate decision in July. 

Copyright British Columbia Real Estate Association. Reprinted with permission.