Energy prices continue to temper the 12-month rise in the Consumer Price Index, Statistics Canada says.

Prices for the goods and services included in the CPI basket were on average 1.6% higher than in November 2002. This matches the 12-month increase of October, the smallest since the 1.3% increase registered in June 2002. If energy had been excluded from the CPI, the 12-month change in November would have been 1.8%, a slight slowdown from the 1.9% registered in September and October.

There are no major economic reports from the United States today.

Overseas stock markets are modestly higher this morning, but Wall Street futures are pointing to a weak opening for North American equity markets.

Asian stock markets took part in a Santa Claus rally during their Friday trading. Tokyo’s Nikkei average rose 180.54 points to 10,284.54 following Wall Street 19-month highs, posted Thursday.

In Hong Kong, the Hang Seng index rose 131.50 points to 12,371.75, boosted by a better-than-expected jobless rate of 7.5% Wall Street’s gains.

In Europe at midday, London’s FTSE 100 is up 16.5 points at 4,413.8. Frankfurt’s DAX has gained 0.6% and Paris’s CAC40 has slipped 0.2%.

On Thursday, North American equity markets rose following positive U.S. economic data. The Toronto stock market’s S&P/TSX index extended its reach above 8,000 by gaining 84.49 points and closing at 8,124.66. The Dow Jones industrial average surged 102.82 points to 10,248.08, its second triple-digit rise this week, to its best level since mid-May of 2002. The Nasdaq climbed 34.85 to 1,956.18. The S&P 500 added 12.70 finishing at 1,089.18.