Canadian retail sales rise due to higher gasoline prices

金十2026/05/22 13:20

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```htmlGolden Ten Data reported on May 22 that after experiencing a strong first quarter, Canadian retail sales continued to grow last month, but soaring gasoline prices appear to be increasingly eroding household budgets. Preliminary estimates released by Statistics Canada on Friday show that retail sales rose 0.6% month-on-month in April, following a 0.9% increase in March. The March data exceeded the median forecast of 0.6% from economist surveys. The data indicates that retail sales grew by 2.1% in the first quarter this year, marking the seventh consecutive quarter of expansion and clearly surpassing the 0.4% increase seen in the last three months of 2025. In terms of volume, retail sales in the first quarter still increased by 1.2%, but the historic surge in gasoline prices in March played a significant role. Statistics Canada did not provide specific details for the April preliminary figure, which is based on feedback from 52.1% of surveyed businesses. However, the March report shows that rising gasoline prices at gas stations may be increasingly squeezing other consumer spending, and the broad strength in consumer demand observed over the previous two months also seems set to weaken.```

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