March 22, 2019 / 1:11 PM / 3 months ago

Instant View: Canada February annual inflation rate rises to 1.5 percent

TORONTO (Reuters) - Canada’s annual inflation rate in February rose to 1.5 percent from 1.4 percent in January as lower gasoline prices exerted downward pressure on the overall rate, Statistics Canada said on Friday.

Separate data from Statistics Canada showed Canadian retail sales fell by 0.3 percent in January from December.

COMMENTARY

Andrew Kelvin, senior rates strategist at TD Securities

“Bit of a mixed bag, the retail data is obviously on the disappointing side. The volumes numbers were better than the headline numbers. But it’s still disappointing and it does fit with this ongoing story of a consumer-led slowdown in Canada.

“A bit firmer CPI data but you look at the core measures, they are stable and actually slipping slightly and they are a little bit under 2 percent. It is all consistent with a slower growth trajectory in Canada.

“They (the Bank of Canada) are on hold for a while.”

Reporting by Fergal Smith and Nichola Saminather; Editing by Bill Trott

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