By Commodity News Service Canada
WINNIPEG, July 17 – The Canadian dollar weakened against its
US counterpart Friday morning, as Statistics Canada released a report
on Canada’s inflation rate.
At 8:35 a.m. CDT the Canadian dollar was at US$0.7705 or C$1.2978
which compares with Thursday’s North American close of US$0.7710,
or C$1.2970.
The consumer price index-which measures changes in price levels
for consumer goods and services-rose one per cent in the 12 months
to June, after increasing 0.9 per cent in May, Statistics Canada said
in a report on Friday.
According to StatsCan, prices were up in seven of eight major
components on a year-over-year basis in June. The rise in the consumer
price index was mostly led by higher food prices as consumers paid
3.4 per cent more for food in June 2015 than they did at the same
time last year.
An increase in shelter costs also contributed to higher consumer
prices.
The TSX was weaker in early activity, down 68.80 points at 8:35
a.m. CDT to sit at 14,731.08.
