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(Updates with economic data)
June 17 (Reuters) - Canada's Stock futures rose on Friday after data showed annual inflation rate cooled in May on cheaper gasoline and a slowdown in price increases for food.
The annual rate declined to 1.5 percent from April's 1.7 percent, data from Statistics Canada showed, falling a tad short of economists' expectations for 1.6 percent.
September futures on the S&P TSX index were up 0.34 percent at 8:40 a.m. ET.
Canada's main stock index fell on Thursday as energy and mining stocks dragged due to lower oil prices and a reversal in bullion following the suspension of campaigning for Britain's European Union referendum after a lawmaker was shot dead.
Dow Jones Industrial Average e-mini futures were down 0.01 percent at 8:40 a.m. ET, while S&P 500 e-mini futures were down 0.12 percent and Nasdaq 100 e-mini futures were down 0.07 percent.
Saskatchewan is considering whether to end a review of its potash royalty system, the economy minister of the Canadian province said, as producers of the crop nutrient struggle with low prices.
COMMODITIES AT 8:40 a.m. ET
Gold futures : $1,290.20; -0.46 pct
US crude : $47.26; +2.27 pct
Brent crude : $48.45; +2.67 pct
LME 3-month copper : $4,558.00; +0.51 pct
Gran Tierra Energy Inc : Canaccord Genuity raises target to C$5 from C$4.50
West Fraser Timber Co Ltd : RBC cuts target price to C$40 from C$54
1030 ECRI Weekly Index: Prior 137.3
1030 ECRI weekly annualized: Prior 6.5 pct
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory ($1= C$1.29) (Reporting by Riniki Sanyal in Bengaluru; Editing by Anil D'Silva)