Bloomberg News

Carney Says Goods Cost Average 11% More in Canada Than in U.S.

November 02, 2011

Nov. 2 (Bloomberg) -- Retail consumer goods cost an average of 11 percent more in Canada than they do in the U.S., Bank of Canada Governor Mark Carney said today, a gap that has narrowed from 18% in April.

In the prepared text of comments to the Senate National Finance Committee, Carney cited a number of reasons why costs for identical goods might be higher in Canada, including inventory levels, local supply and demand factors, labor costs and productivity levels.

To contact the reporter on this story: Andrew Mayeda in Ottawa at amayeda@bloomberg.net

To contact the editor responsible for this story: Paul Badertscher at pbadertscher@bloomberg.net


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