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TORONTO — After decades of a deep pricing chasm between U.S. and Canada on some retail goods, most notably books and cars, the gap appears to have narrowed substantially, according to a new economic report.
"(Prices) now compare surprisingly well, even with the recent dramatic sprint in the loonie," said the report Wednesday from Douglas Porter, chief economist at BMO Capital Markets.
Porter and a research team looked at a basket of goods and found them to be just 6.8 per cent more expensive in Canada than in the U.S. before taxes, adjusted to current exchange rates.
That gap is