By Commodity News Service Canada
Sept. 22 (CNS Canada) – The Canadian dollar gained slightly following a report on Canadian inflation. The Consumer Price Index showed an annual increase of 1.4 per cent, which was roughly in line with forecasts. Core inflation slowed to 0.1 per cent from 0.2 per cent when rates are seasonally adjusted.
The dollar was trading at US$0.8131 at 8:39 a.m. CDT or C$1.2299 per US$1. The loonie closed yesterday at US$0.8104 or C$1.2339 per US$1.
The United States says it will clearly spell out all of its demands in the next round of negotiations to reinvent the North American Free Trade Agreement, the Globe and Mail reports. The meetings are scheduled to start this weekend in Ottawa.
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The Consumer Price Index is up in most areas covering a period from August 2016 to August 2017. The overall 12 month increase is 1.4 per cent with six of eight sectors rating higher than a year ago. The transportation index climbed 2.8 per cent. Within that group, gasoline accounted for a major part of the increase, with an 8.6 per cent surge. Consumer food prices rose 0.9 per cent during the year, and the shelter index rose 1.3 per cent, according to Statistics Canada.
Saskatchewan posted the largest increase among provinces to the overall Consumer Price Index, climbing 1.7 per cent. The CPI in Manitoba increased 0.9 per cent for the year, and in Alberta it increased 1.1 per cent.
Amazon has announced a new partnership with Olo, a leading digital food ordering service in the United States. Last month, Amazon bought the Whole Foods Market grocery chain.
The S&P/TSX was down 3.11 points (0.02%) to 15,451.81 at 8:39 a.m. CDT.
