US CPI Data Due | Canadian NHPI Data Indicates Growing Demand
Published October 10, 2019
US Consumer Price Index was largely unchanged in September on a seasonally adjusted basis after rising 0.1% in August, as shown in a report published from the Bureau of Labor Statistics this morning. Over the last 12 months, items on the index increased by 1.7% before seasonal adjustment. Increases in the index for shelter and food were offset by declines in the index for energy and used cars.
The US also published unemployment data this morning; seasonally adjusted initial claims were down to 210,000, a decrease of 10,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 219,000 to 220,000. The 4-week moving average was 213,750, an increase of 1,000 from the previous week’s revised average.
In Canadian economic data this morning, new housing prices were up 0.1% in August, the first increase since July 2018. The notable increases were observed in primarily Montreal, Kitchener, and Waterloo where builders cited favourable market conditions and higher land prices. The growing technology sector and more affordable housing prices (relative to Toronto) have also contributed to demand in these regions.