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Global Markets: Canadian consumer price index rises

By Commodity News Service Canada
WINNIPEG, October 20 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
The Canadian consumer price index September annual
inflation inched up from 1.4 per cent to 1.6 per cent, according
to Statistics Canada. Higher gasoline prices helped to push the
index higher, away from the two-year low of one per cent it hit
in June.
Shoppers across Canada felt underwhelmed as they flocked to
Sears’ stores Thursday for the first day of the retailer’s
liquidation sales. While signs suggested discounts of 20 to 50
per cent off, with a note saying some exceptions apply,
relatively few items were offered at half off.
Finance Minister Bill Morneau announced Thursday the
government won’t proceed with proposed changes which would have
restricted a person’s ability to convert money held in a private
corporation into capital gains as a way to reduce taxes. This
was the tax proposal Canadian farmers were most vocal against as
it would affect succession planning.

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