Statistics Canada reports: Retail sales up 8.2% in 2022, CPI published

Canadian retail sales finished 2022 strong in December, according to Statistics Canada’s final retail sales report for the year published on February 21, 2023.
Total sales were up 7.3% year-over-year in December 2022 – and 0.5% from November 2022 – to $62.1 billion.

On the whole, retail sales increased 8.2% in 2022, led by gasoline stations and general merchandise stores. In volume terms, sales were up 1.5% in 2022.
Higher sales at general merchandise stores (+1.7%) led the increase in core retail.
Meantime, Statistics Canada also confirmed on February 21, 2023 that its Consumer Price Index (CPI) rose 5.9% year-over-year in January 2023 following a 6.3% increase in December 2022. Further details can be found here.