Rent and mortgages led inflation higher, with April’s numbers coming in at 4.4% in Canada Home prices have rebounded as the spring market picks up. Grocery costs came in at 9.1% higher in April, which is a slight decline from March. There is a focus on the health of the consumer.
The TSX posted a modest gain with energy offsetting weakness elsewhere. US markets also closed positive. US President Biden provided reassuring comments that the US will avoid a potentially catastrophic debt default.