Canada-U.S. Price Gap Narrows

(Toronto Star)

BMO economist says strong loonie and consumer outcry helped close gap to 6.8% from 18% last year

Canadians are paying a little bit more than Americans for cars, cameras and drills. But we're paying a whole lot more for CDs, chainsaws and barbecues, a new report has found.

On average, Canadians are paying 6.8 per cent more than Americans for a select basket of items, down from 18 per cent a year ago.

“Given the wild swings we've had in the currency, I would say that's not a big gap at all,” said Doug Porter, deputy chief economist at BMO Capital Markets. Read more here.

Related: Canadian dollar at highest level in 10 months (Financial Post)