As the working week draws to a close we are treated to U.K. retail sales and Canadian CPI, both of which are expected to grow on a monthly basis.
UK retail sales to inch higher
Retail sales in the U.K. are expected to climb 0.3 percent month-on-month in January (consensus: 0.2) following the 0.3 percent decline in December, which took the yearly growth rate down to 1 percent. As energy prices have surged in recent months their contribution to retail sales is expected to propel the 'with auto fuel' series 0.5 percent higher month-on-month.
Futhermore, the fact that the December U.K. numbers were negatively influenced by heavy snowfalls means that, in comparison, the month-on-month change in January is likely to be boosted .
Inflation in Canada
The North American session is expected to see little action as the U.S. prepares for Presidents Day on Monday, following a couple of action-packed days. Canada, however, will release a report on inflation, which is expected to show that prices grew 0.3 percent from December to January. The monthly fluctuations have been noticable in Canada with price changes ranging from -0.1 to 0.5 percent in the last six months, though the overall trend is for rising inflation with the year-on-year changes up to 2.4 percent in December from 1.3 percent a year earlier. If we remove the most volatile components, the core index is expected to show unchanged inflation of 1.5 percent year-on-year. The core index has been showing slowing inflation since early 2010 where it was around 2 percent.
UK retail sales to inch higher
Retail sales in the U.K. are expected to climb 0.3 percent month-on-month in January (consensus: 0.2) following the 0.3 percent decline in December, which took the yearly growth rate down to 1 percent. As energy prices have surged in recent months their contribution to retail sales is expected to propel the 'with auto fuel' series 0.5 percent higher month-on-month.
Futhermore, the fact that the December U.K. numbers were negatively influenced by heavy snowfalls means that, in comparison, the month-on-month change in January is likely to be boosted .
Inflation in Canada
The North American session is expected to see little action as the U.S. prepares for Presidents Day on Monday, following a couple of action-packed days. Canada, however, will release a report on inflation, which is expected to show that prices grew 0.3 percent from December to January. The monthly fluctuations have been noticable in Canada with price changes ranging from -0.1 to 0.5 percent in the last six months, though the overall trend is for rising inflation with the year-on-year changes up to 2.4 percent in December from 1.3 percent a year earlier. If we remove the most volatile components, the core index is expected to show unchanged inflation of 1.5 percent year-on-year. The core index has been showing slowing inflation since early 2010 where it was around 2 percent.
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