Following Thursday’s load of disappointing data, only one highlight for the Friday before a long weekend: Canadian Inflation.
The April CPI crept up 0.4% over March, for an annual inflation rate of 2% -- just where the Bank of Canada wants it. Core inflation is pegged at 2.1%; also well inside the Bank’s comfort zone. The rise is the result of moderate price increases in consumer items. On a Y/Y basis prices rose in all 8 of the major categories tracked by StatsCan.
In Europe, there is confirmation that the European Commission and the European Central Bank are running scenarios for a Greek exit from the euro. Speculation has been rife, and now the EU’s trade commissioner has told a Dutch paper they are a reality. Greeks will take another crack at electing a real government on June 17.
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