Weaker growth in gas prices helps slow inflation

Reuters

"Canada's inflation rate is now not only well below Britain and the USA, but it is now also lower than that in China and the European Union", said Porter.

The central bank's three measures of core inflation remained subdued.

Total food prices fell 0.1% from a year ago, the eighth consecutive monthly decline.

OTTAWA, June 23 Canada's annual inflation rate cooled more than expected in May, moving it further away from the Bank of Canada's target and reducing the odds of an interest rate hike next month.

It noted natural gas prices also fell 4.9 per cent in the same 12-month period, "providing the largest downward contribution to the natural gas index at the national level".

The Canadian dollar fell on Friday against its U.S. counterpart after weaker-than-expected domestic inflation data reduced the chances of an interest rate hike next month from the Bank of Canada.

He said by Bank of México standards the message was "as close as you get to a signaling saying 'This is done.' Which is pretty interesting".

Amazon to buy Whole Foods for US$13.7b
Investors like the deal and think it will be good for the online retail giant, which has been expanding its grocery offerings. The New York Times says Amazon wants to, or already has created plans to expand its e-commerce business into physical retail.

Food prices rose 0.3% (month-on-month) bringing the year-on-year rate to -0.1%, up from -1.1% in April.

Goods prices fell 0.4% on the month for a 0.1% annual gain while services-sector process rose 2.3% on the year after a 0.4% monthly gain.

Ontario had promised to cut electricity bills by an average of 17 per cent and the reductions were scheduled to start taking effect in May.

The Statistics Canada report also found weaker price growth in every province last month, with the biggest slowdown in Manitoba.

Core prices rose 0.1% on the month with the annual rate declining to 0.9% from 1.1%.

"As much as the Bank of Canada has seemed a bit dismissive of those recent inflation numbers, I think it would be hard for them to raise rates in July given the decline that we saw again in May's inflation".

"The market thinks that the inflation peak is near and that Banxico will end its cycle this Thursday", Finamex analyst Guillermo Aboumrad said in a note to clients.

Related News:

  • "Transformers: The Last Knight" Spoilers

    Is that the case with " The Last Knight " though? It is distributed by United International Pictures through Columbia Pictures. Turns out, she'll have a key role in helping Cade and his Autobots defend the earth from a potentially devastating attack.
    Trump confirms he's under investigation, fires angry tweets

    Trump confirms he's under investigation, fires angry tweets

    Deputy Attorney-General Rod Rosenstein submitted a widely circulated memo to the President in May 2017 raising concerns over Mr. Donald Trump has appeared to confirm he is being investigated for obstruction of justice as he complained of a "witch hunt".
    Rep. Steve Scalise's condition upgraded to 'serious'

    Rep. Steve Scalise's condition upgraded to 'serious'

    Scalise is a member of the team and had been fielding balls at second base in preparation for the game when he was shot. Scalise underwent his third surgery Thursday, which was anticipated when he first came into the hospital.
  • Microsoft & Accenture to provide legal IDs to over billion undocumented people

    Microsoft & Accenture to provide legal IDs to over billion undocumented people

    PricewaterhouseCoopers and Cisco Systems Inc are among the organisations involved in ID2020. This platform is now in use to power UNHCR's biometric data identity management system.
    Officials say loud explosion heard in Mogadishu

    Officials say loud explosion heard in Mogadishu

    The explosion took place outside Wadajir district headquarters, which is opposite to a busy marketplace known as Suuqa-weyn.

    EU, UK fix date to begin Brexit negotiations

    The talks are taking place three months after Prime Minister Theresa May formally triggered the two-year Brexit timetable. Brussels has warned that time is running out to start the talks with Britain on divorce terms and a future trade deal.
  • JK: Two army soldier killed in Poonch sector

    JK: Two army soldier killed in Poonch sector

    Army sources said the infiltrators were spotted and engaged in a firefight "The infiltrators were fired upon". Another armed intruder was injured and covering fire by Pakistan posts facilitated his extrication.

    United States Supreme Court Strikes Down Trademark Ban

    Supreme Court ruled Monday, June 19, that the band can trademark its name, even though some people see it as racially disparaging. While defending the First Amendment's freedom of speech protection, the justices did not remove all discretion from the U.S.
    H&M May sales rise 4%

    H&M May sales rise 4%

    H&M sales were slower-than-expected in the retailer's second quarter due to a tough start to May in some of its worldwide markets.
  • Samsung launches Galaxy Tab S3 at Rs 47990

    Samsung launches Galaxy Tab S3 at Rs 47990

    The features that adds splendour to this tablet is its HDR video playback capabilities, which makes the scene come alive. It runs the Android 7.0 Nougat out-of-the-box and is backed by a 6,000mAh battery .
    Kia tops quality and reliability survey…again

    Kia tops quality and reliability survey…again

    Power says Hyundai is the automaker with the most segment awards in this year's survey, although all are for Kia-brand models. This marks the first time in the survey's 30-year history that two Korean brands have topped the list, a spokesman for J.D.
    YotaPhone 3 to launch later this year, priced around Rs 22000

    YotaPhone 3 to launch later this year, priced around Rs 22000

    It's rumored that the YotaPhone 3 will be available in 64GB and 128GB versions with a price tag of $350 and $450. The successor, appropriately titled YotaPhone 2 , came out in 2014 and improved upon the original design.


Most liked

'The Mummy' Reboot Teases More Monster Films With Easter Eggs
Those expecting an all-out action adventure like the 1999 version of " The Mummy " starring Brendan Fraser may a bit let down. A new musical theme for the " Dark Universe ", composed by Danny Elfman, will debut in theaters ahead of " The Mummy ".

Trump takes a Twitter victory lap, taunts Democrats for losing special elections
Are there lessons to be learned? But the Grammy-winner has also been critical of the Democratic Party . Trump , but a referendum on the GOP's progress - or lack thereof - on health care so far this year.

Cameroon vs Australia 22 June 2017: Confederation Cup Preview and Predictions
Germany came to the Confederation Cup with a young squad that has only three players from its World Cup-winning team. Goalkeeper Claudio Bravo, however, will be sidelined again because of a left calf injury.

Jurors deliberate for a second day in Milwaukee ex-cop trial
After the second shot, Smith's arms and legs are still moving and he appears to bring his left hand toward his waistband. Smith had a gun but had tossed it over a fence just before Heaggan-Brown's second shot hit him in the chest.

Sex assault investigated in Muslim teen slaying
As of the morning of Tuesday, June 20, the campaigns raised a total of $327,305 from more than 12,000 contributors nationwide. They say Torres became enraged with the group of teens and exited his vehicle wielding a baseball bat, striking Nabra.

Shiv Sena plays hardball on Presidential polls
However, if Sena thinks otherwise as indicated by Raut, BJP will have to look for 25,893 votes more. Till July, the Sena would continue to play truant and embarrass the BJP on several fronts.

France's Macron to reshuffle government after parliament win
The new intake of lawmakers has very little political experience - 425 of the 577 have never been members of parliament. The newly elected French National Assembly will be the most diverse ever, with younger and more ethnically diverse MPs.

John Oliver says Donald Trump 'needs to stop lying to coal miners'
Using a mix of statistics and old Trump quotes, Oliver implored the president to " stop lying " to America's miners. The Trump administration has spouted inaccurate statistics about their support of coal miners.

Mercury rises as Met office issues second highest heatwave alert
Mr Stewart added: "We will probably see the highest temperature in the west London area today, which will peak at 32C (89F)". The NHS has urged the elderly, children and those with medical conditions to keep cool and hydrated during the heatwave.

Rangers launch Europa League campaign against Progres Niederkorn of Luxembourg
St Johnstone's opposition FC Trakai are in the draw after finishing as runners-up to Zalgiris Vilnius in the 2015-16 league. Bala Town , Connah's Quay and Bangor City will also find out who they will face in the Europa League qualifiers.

Indonesia Super Series: PM Modi congratulates Srikanth on his maiden title win
Srikanth then produced a precise crosscourt smash and then returned an onrushing shot from Son to raise his arms in celebration. With this win, the 24-year-old from Guntur became the first Indian male shuttler to win an Indonesia Open title.

UK to double length of next Parliament to deal with Brexit
The next parliamentary session will last for two years and focus on the legislation that will take Britain out of the EU. The Queen's Speech was also dropped in 2011 under David Cameron's then-coalition government.

British PM May faces mounting criticism over London tower block blaze
Syrian refugee Mohammed Alhajali, 23, was also killed in the fire. "I mourn the tragic loss of a wonderful young woman". The representative said the group had spoken with Mrs May about their "demands and what we expect".

Trump lashes out at 'bad,' 'conflicted' Russia investigators
Trump wrote on Twitter , in a pair of messages that ended with a reference to his campaign slogan "Make America Great Again". Still, the snowballing investigation has deeply angered Trump, who denies he has any nefarious ties to Russian Federation .

Katy Perry is the first to hit 100 million Twitter followers
A Twitter spokesman said that many bot programs help people all over the world by giving weather and child abduction updates. Perry has shown Twitter as much love as its shown her, as it's been one of her main forms of communication with her fans.