Statistics Canada's July retail proved to be a shock to analysts. The main surprise - the July retail sales growth amounted to only 0.5%. The June increase was revised downward - to 0.4% (compared to an earlier figure of 0.6%) - based on AMarkets.
In annual terms, retail Canada-July increased by 1.8%, adjusted for inflation - is extremely small. Savings of the population, auto sales rose only 2% in July. Excluding the mentioned 2 component, retail sales, in general, showed positive dynamics, remains flat. Interestingly, sales vary greatly from region to region: for example, in British Columbia and Ontario sales unchanged at plus 5.7% and plus 4.6%, respectively. In Newfoundland and Labrador - to minus 0.7% in Saskatchewan - to minus 3.6% in Alberta - to minus 3.7%. 2 last mentioned province - the main residence of the oil, which is now lyutuet recession.
But another surprise from the Canadian report - for the last 6 months, retail prices in Canada have increased to the maximum in the last decade. Canadian CPI for August rose by 0.3% after rising 0.3% in July. It's not so bad. But other figures already terrible: food prices in supermarkets increased by 4%, meat - by 6.3%, furniture and appliances - by 2.5%.
Schedule - the island in the past decade jump on retail prices in Canada: