Economics
Economic Weakness Persists in Canada’s Inflation and Retail Data
- Consumer price index ticks up, but remains below 2% target
- Retail sales were the big disappoinment with unexpected drop
Photographer: Ben Nelms/Bloomberg
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Canada’s economy gave no sign of a quick exit from its current soft patch, with data released Friday showing a benign environment for price pressures and tepid consumer spending.
Statistics Canada reported a small uptick in inflation from 15-month lows, to 1.5 percent, but those numbers are still well below the Bank of Canada’s 2 percent target. A separate report showed retail sales unexpectedly declined in January, reinforcing concerns about consumers paring back.