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Global markets: Canadian consumer prices up

By Commodity News Service Canada

WINNIPEG, June 23 – The following is a glance at the news moving markets globally.

– The Consumer Price Index (CPI) rose 1.3 per cent on a year-over-year basis in May, following a 1.6 per cent gain in April, Statistics Canada said in a report on Friday.

Overall, energy prices rose less year over year in May than they did in April, with the year-over-year growth rate in gasoline prices slowing to half of what it was the previous month. Declines in food prices continued to moderate.

Excluding food and energy, the CPI was up 1.4 per cent on a year-over-year basis in May, after posting a 1.5 per cent increase in April, StatsCan said.

– Euro zone business growth slowed toward the end of the first half of 2017, according to reports on Friday.

However, market watchers say inflation and growth are mostly strong overall, which limited concerns.

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