Inflation | GlobalPost

Canadian inflation rate falls to 0.4 per cent as gas prices tumble in April

The Canadian PressMay 17, 2013 09:45

OTTAWA - Canada's inflation story is fast becoming one about disinflation. Statistics Canada reported Friday that the annual rate fell an astonishing six-tenths of a point to 0.4 per cent last month, the lowest it's been since October 2009, as gas prices plunged by six per cent — also the biggest drop since October 2009 — and many other consumer goods registered outright declines. The loonie fell more than a penny against the U.S. dollar in early trading as markets read the soft report as making interest rate hikes in Canada less likely and further off into the horizon.

Canadian dollar falls, dragged down by weaker-than-expected inflation figures

The Canadian PressMay 17, 2013 09:45

TORONTO - The Canadian dollar headed lower Friday after Statistics Canada reported that consumer prices rose last month at the slowest rate it's seen in more than three years. The loonie finished the day down 0.95 of a cent to 97.17 cents US as the U.S. dollar also gained strength against other major currencies. The Canadian dollar was as low as 96.96 cents at one point in the morning, a level not seen in more than two months.

Toronto, Wall Street surge higher amid positive U.S. data, consumer sentiment

The Canadian PressMay 17, 2013 09:45

TORONTO - The Toronto Stock Exchange surged ahead Friday, encouraged by gains from the U.S. markets, after data showed the world's largest economy may be in recovery. "We continue to grind higher here," said Jason Hornett, a portfolio manager with Bissett Investment Management. "People continue to be more and more optimistic here in North America and it definitely bodes well for the stock market." The S

Big drop in gas costs pushes down US consumer prices in April by most in 4 years

The Canadian PressMay 16, 2013 10:00

WASHINGTON - A plunge in the cost of gas drove down a measure of U.S. consumer prices last month by the most since December 2008. Excluding the drop in fuel costs, prices were largely unchanged. The consumer price index fell 0.4 per cent in April from March, the Labor Department said Thursday. The main reason the index fell was that gas prices plunged 8.1 per cent. For the 12 months that ended in April, overall prices rose 1.1 per cent — the smallest year-over-year increase in 2 1/2 years.

Bank of England offers ray of hope for UK economy

Thomson ReutersMay 16, 2013 02:03

By David Milliken and Christina Fincher LONDON (Reuters) - Britain's central bank lifted a bit of the gloom hanging over the economy on Wednesday, delivering a slightly improved outlook for inflation and growth for the first time since the financial crisis. Bank of England Governor Mervyn King, presiding over his last Quarterly Inflation Report before he hands the reins to Mark Carney, said the better figures did not mean the recovery was secure.

BOE says inflation to remain high, but predicts 'modest, sustained' recovery

The Canadian PressMay 15, 2013 15:45

LONDON - The Bank of England says it is predicting a modest and sustained economic recovery for the U.K. but warned that inflation will remain above its targets for the next two years. In its quarterly inflation report, the central bank says inflation is stuck above the 2 per cent target and is set to edge higher over the coming months, partly due to the pound's weakness and external pressures. Still, it added Wednesday that private-sector wage growth and fading external price pressures mean that inflation should gradually fall back to around 2 per cent.

US wholesale prices fall 0.7 pct. in April, most in 3 years, driven lower by cheaper gas, food

The Canadian PressMay 15, 2013 09:54

WASHINGTON - Sharp drops in fuel and food costs reduced a measure of U.S. wholesale prices in April by the most in three years. Outside those volatile categories, inflation stayed tame. The producer price index, which measures price changes before they reach the consumer, fell a seasonally adjusted 0.7 per cent in April from March, the Labor Department said Wednesday. It was the second straight monthly decline and the steepest since February 2010.

British official unemployment hits 2.52 mln

Agence France-PresseMay 15, 2013 06:31

British unemployment has risen for the third month in a row, official data showed on Wednesday, while total pay growth sank to its lowest level in four years. The number of unemployed people climbed by 15,000 to reach 2.52 million in the three months to the end of March, compared with the three months to the end of December. The Office for National Statistics (ONS) added in a statement that Britain's unemployment rate stood at 7.8 percent in the same period.

Indian inflation cools to below 5% for first time since 2009

Agence France-PresseMay 14, 2013 14:16

India's inflation cooled last month to a surprise 41-month low, official data showed Tuesday, giving the central bank more room to cut interest rates to battle the worst economic slowdown in a decade. The Wholesale Price Index, the most closely watched inflation gauge, dropped to 4.89 percent in April on an annual basis, more than a full percentage point below the previous month's reading of 5.96 percent. "Inflation is moving in the right direction," HSBC's India economist Leif Eskesen said, noting the figure was "well below expectations" and "relatively broad-based".

Spanish official inflation falls

Agence France-PresseMay 14, 2013 13:30

Spanish inflation fell in April as energy prices slumped and domestic demand evaporated in a job-destroying recession, official data showed Tuesday. Consumer prices over the year to April rose by 1.5 percent, the lowest level since 2010, after climbing 2.6 percent the previous month, the National Statistics Institute said. The figures, which confirmed a preliminary report issued two weeks earlier, showed month-on-month prices were up just 0.1 percent.