Canada Factory Prices Up 0.7% as Energy Costs ReboundFactory prices rose 0.7% in February, according to data released Monday by Statistics Canada. Energy and petroleum products, including gasoline and diesel, were the largest upside contributor to the monthly gains, rising 5.2% after four monthly declines.Prices for meat, fish and dairy fell 0.9% in February, the fourth consecutive monthly decline. On a yearly basis, industrial product prices were down 1.7%.
In the US, the cattle herd is also the smallest it’s been in decades, and wildfires in recent weeks in Texas have killed thousands of animals. The lack of cattle is expected to keep US beef prices high for the next few years, too.
NEW YORK -While bond investors expect the U.S. Federal Reserve to keep rates unchanged at its policy announcement on Wednesday, the market reaction could hinge on what Fed officials indicate about stubborn inflation and if their signals get more hawkish about the timing and extent of any easing this year. Traders are now pricing in three 25 basis points cuts, in line with Fed policymakers' median expectations made in December.
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