A clear correlation between this afternoon’s data from Canada can be seen on today’s economic calendar. News released by Statistics Canada today regarding its consumer price index (CPI) and retail sales underscores the country’s economic stand-point.
Canada’s CPI, both nominal and core, revealed a sharp decline in consumer inflation suggesting a downturn in the price for goods and services. Concurrently, however, the northern giant published data that these price declines may have helped fuel resurgence in retail sales. The afternoon publication of sales figures showed a 0.5% increase in core sales, and 0.1% growth in the country’s nominal data.
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