Posted AT 6:25 PM EDT on 12/06/07
Few payoffs on the loonie's rise
Consumer goods from BlackBerrys to Honda Accords are more expensive than they should be because retailers are slow to cut prices to reflect the strong Canadian dollar, an economist said Tuesday.
It means Canadians are paying at least 8 per cent more, on average, for goods than Americans and may help explain why Canada has the highest rate of core inflation in the industrialized world, said Douglas Porter, deputy chief economist at BMO Nesbitt Burns Inc.
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